Fermi is trading at $6.21 (up 4.7%) as investors reassess the company's funding for Project Matador following a multi-day decline.
- The stock is bouncing back from a selloff triggered by an upsized convertible senior notes offering and a governance-related director resignation.
- The move comes as biotech stocks outperform a weak broader market, indicating a selective rotation into healthcare and a focus on Fermi's strengthened balance sheet.