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Jersey Mike’s Subs, with its 5.96% stock-price decline Thursday, is hardly alone in having a first-day share slide. This year, shares for hedge fund Pershing Square, nuclear fuel company Standard Nuclear and biotech firm Generate Biomedicines fell 18%, 18% and 21% respectively on their first trading days, according to Dealogic.

Ark Invest's top investor is adding to stocks that went public over the past year.

This biotechnology firm leverages machine learning to design novel protein therapeutics targeting unmet medical needs.