Sophia Genetics dips on $50 mln stock sale
BUZZ-Sophia Genetics dips on $50 mln stock sale ** AI-driven healthcare tech firm Sophia Genetics' SOPH.O shares down 0.5% premarket to $4.90 after $50 mln follow-on priced
** Switzerland-headquartered SOPH late Tues sold ~10.5 mln shares at $4.75, a 3.7% discount to last sale
** It intends to use net offering proceeds for working capital and other general purposes, including R&D and expand its data-driven medicine platform, per the prospectus
** TD Cowen lead bookrunner, joined by Guggenheim
** SOPH has ~71.79 mln shares outstanding for about $350 mln market cap
** At Tues close, shares up 5.6% YTD and about 70% over the past 12 months
** 2 analysts rate the shares "strong buy", the other 2 rate "buy"; median PT $8, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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