Heartflow, Inc. (HTFL) saw its stock price skyrocket by 47.37% during intraday trading on Friday, marking a stellar debut on the Nasdaq Global Select Market. The artificial intelligence-powered medical technology company's shares opened at $28, significantly higher than its initial public offering (IPO) price of $19 per share.

The strong market reception follows Heartflow's successful IPO, which was upsized due to high demand. The company priced its offering at $19 per share, above the marketed range of $17 to $18, raising approximately $316.7 million by selling 16.7 million common shares. The IPO's success reflects investor enthusiasm for Heartflow's AI-enabled products, which assist physicians in diagnosing and treating heart disease.

Founded in 2007 as Cardiovascular Simulation and backed by Bain Capital, Heartflow represents the third significant medtech listing in New York in less than a month. The company's strong debut underscores the growing interest in AI-driven healthcare solutions and suggests a positive outlook for innovative medical technology firms in the public markets. J.P. Morgan, Morgan Stanley, and Piper Sandler served as the lead underwriters for the offering.