Heartflow Stock Soars 50% Above IPO Price in Latest Hot Debut

Heartflow started trading on Friday. (Photo by ANGELA WEISS /AFP / Getty Images)

Another day and another hearty debut for an initial public offering on Wall Street.

Medical imaging and diagnostics software company Heartflow is Friday’s hot IPO—and the company, which raised $317 million from the sale of 16.7 million shares at a price of $19, popped on its first day of trading.

Shares, which are listed under the ticker symbol of HTFL on the Nasdaq Stock Market, ended Friday at $28.75—51% above their offering price. The company is worth about $2.6 billion at Friday’s closing price. Bain Capital and Wellington Management are top shareholders.

Heartflow isn’t profitable, and losses widened in both 2024 and the first quarter of 2025 from year-earlier periods. But sales have grown at a solid clip, rising 44% last year and 39% in the first three months of 2025.

The first-day gain for Heartflow is yet another sign of the renewed interest in IPOs among traders. Shares of Firefly Aerospace, a space exploration company that successfully had a lunar lander touch down on the moon earlier this year, rose more than 35% in its debut Thursday.

Design software firm Figma, drone maker AIRO, and stablecoin company Circle Internet Group, which is set to report earnings on Tuesday, have also wowed Wall Street. Exchange operators Bullish and Miami International are on tap to begin trading next week.

Write to Paul R. La Monica at paul.lamonica@barrons.com