Shares of Equillium EQ, -5.71% rose in their public debut, as they opened 2.5% above the initial public offering price. The first trade was at $14.35 at 11:12 a.m. Eastern for 130,085 shares. The stock edged higher since to be up 4.3%. The IPO priced late Thursday at $14, at the bottom of the expected range of $14 to $16, to value the biotechnology company at about $233.8 million. Equillium sold 4.67 million shares to raise about $65.4 million. The company went public at a time that the Renaissance IPO ETF IPO, +2.53% has dropped 11.6% over the past three months, the IShares Nasdaq Biotechnology ETF IBB, +1.33% has shed 5.8% and the S&P 500 SPX, +0.88% has slipped 1.1%.

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