AIM ImmunoTech (AIM) stock plummeted on Tuesday after the immuno-pharma company priced a public offering of its shares. The company will sell 2 million shares of AIM stock for $4 each. These shares come bundled with Class E and Class F warrants to acquire another 2 million shares each. These warrants have an exercise price of $4 and can be exercised immediately. The Class E warrants expire in five years, while the Class F warrants expire in 18 months.
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It makes sense that AIM stock would fall alongside the pricing of the public offering. Not only does this dilute the shares of current investors, but the offering price of $4 is well below the shares’ prior closing price of $7.20.
AIM ImmunoTech Stock Movement Today
AIM ImmunoTech stock was down 51.39% in pre-market trading on Tuesday, following a 14.29% drop yesterday. The shares have also decreased 63.64% year-to-date and 79.26% over the past 12 months. Today’s movement came with heavy trading, as some 879,000 shares changed hands, compared to a three-month daily average of 12,700 units.
Is AIM ImmunoTech Stock a Buy, Sell, or Hold?
Turning to Wall Street, coverage of AIM ImmunoTech is thin. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates AIM stock a Neutral (44) with an $8.50 price target, representing a potential 18.06% upside for the shares.
