New Issues – IPOs: Aprea Therapeutics, Inc. [NASDAQ: APRE] had a successful IPO on the 3rd of October. The stock opened for trading at $15.46 and shot up to $21, representing gains of roughly 40% on the first day of trading. The company’s momentum was driven by large insider buying of the stock. Insider buying is usually a positive indicator of the future direction of a stock.
Looking at the company’s IPO details, Aprea therapeutics has its headquarters at 535 Boylston Street Boston MA 02116. The company had about 14 employees as of 26th September 2019, and is headed by Christian S. Schade, who is the CEO. During the IPO, Aprea Therapeutics offered around 5,666,667 shares, and has roughly 19,876, 532 outstanding shares.
From a look at the charts, APRE has been showing bullish sentiment since its first day of trading. After its initial 40% surge to $21, APRE has been consolidating at around the $19 – $21 range.
In Monday’s trading session, APRE was trading between highs of $19.82 and a low of $19.02, before closing the day at $19.36. In the short-term, the key level to watch will be the upper limit of $21. If it is broken, it could mark a continuation of the uptrend that started on day 1 of the IPO.
About Aprea Therapeutics
Aprea Therapeutics is a clinical-stage biopharma company that develops and commercializes novel cancer therapies. Its therapies reactivate mutant p53 tumor suppressor protein, the protein that is expressed from the TP53 gene. The company believes that, the mutant p53 protein is an attractive target because, p53 mutations are common across different types of cancers. The company’s lead candidate for cancer treatment, APR-246, is currently in late-stage clinical development for the treatment of hematologic malignancies. This product has already received a fast track designation for MDS from the FDA. The company believes that this treatment will be a game changer in cancer treatment once approved.