Stock Price Questioned
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NEWPORT BEACH — Medical Science Systems Inc.’s stock price has fallen since the company went public nearly three weeks ago, but the company said Monday it knows of no reason for the decline.
The stock, which was priced at $9 a share and closed at $8.63 on its first day of trading Nov. 26, closed Monday at $6.50, up 25 cents.
Medical Science said Friday that the underwriters of its initial public offer, Nutmeg Securities Ltd. and Millennium Financial Group, have asked the National Assn. of Securities Dealers to investigate recent trading activity in the company’s stock.
Medical Science Systems provides genetic testing services for diseases.
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