Credit where due: @poepkak is correct. It appears that the offering price was as low as 0.01 ETH, which is 3 bucks or so.

So this was a case where the original sellers got out quickly at a high price, and the price now - $4.20 or so - is a premium, meaning that folks who bought at the ICO price are now holding something more valuable than they bought it for.

Thanks for jumping in and pointing out the error of my ways.

Dave