Mobia Medical Drops Back Under IPO as Investors Question Stroke Device Plan
Mobia Medical shares traded lower on Monday morning, as the stroke-recovery device maker stayed under its IPO price less than a month after listing on the Nasdaq. The stock last traded at $12.84, off 26 cents from Friday’s close. It moved between $12.71 and $13.32 earlier in the session. Mobia is in its first run as a public company. The IPO put 10 million shares on sale at $15 apiece and aimed to bring in roughly $150 million before fees and other costs.