Femasys Inc. (NASDAQ:FEMY) Stock is Up 15% in a Week: Still a Good Buy?
Femasys Inc. (NASDAQ:FEMY) has gained 15% in a week, but the stock is still 24% down in a month. Recently the company appointed Anne Morrissey to its Board of Directors. CEO Kathy Lee-Sepsick said, “Anne is an accomplished industry veteran with an impressive track record of leading innovative healthcare companies, and we are delighted to welcome her to our board.
Her leadership and operational experience will be invaluable at this stage of Femasys’ growth as we work to advance FEMASEED into clinical development and continue our clinical work with FEMBLOC with a goal of providing women worldwide with superior technologies.”
The company also priced its IPO of 2.65 million common shares at $13 per share. Femasys expects gross proceeds to be around $34.45 million before deducting underwriting commissions and discounts. The company is offering all the shares and has given underwriters 30 days to acquire another 397,500 common shares at IPO price. So, in the coming days, FEMY is a stock to watch.
Market Reaction:
On Tuesday, FEMY stock jumped 14.71% at $8.50 with more than 680k shares, compared to its average volume of 382k shares. The stock had moved within a range of $7.74 – 9.22 after opening the trade at $7.87. Over the past 52-week, the stock has been trading within a range of $7.00 – 13.75.
