IPOs: Targacept slips as Sealy springs.

• Position: TRIAD

Two Triad companies went public, and each collected tens of millions in capital. Winston-Salem-based Targacept, which plans to make drugs to fight neurological disorders, had hoped to sell 5 million shares for at least $11 per share. That would have raised $55 million. Instead, its shares opened at $9 and closed at $8.66, netting $40.7 million for Targacept, which intends to use it for clinical trials, general expenses and possible technology...