Shares of Homology Medicines (NASDAQ: FIXX) were sinking 17.8% lower as of 12:01 p.m. EDT on Wednesday. The decline came after the company announced the pricing of its latest public stock offering.
Biotech stocks usually fall after public stock offerings are announced. The issuance of new shares dilutes the value of existing shares. Just how much they fall depends on how much dilution is on the way.