{"id":14897,"date":"2020-09-18T14:58:25","date_gmt":"2020-09-18T18:58:25","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=14897"},"modified":"2020-09-18T14:58:25","modified_gmt":"2020-09-18T18:58:25","slug":"ipo-weekly-recap-snowflake-storms-into-public-market","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/ipo-weekly-recap-snowflake-storms-into-public-market\/","title":{"rendered":"IPO WEEKLY RECAP: Snowflake storms into public market!"},"content":{"rendered":"

It was one of the wildest weeks for the IPO market in recent memory. And any and all hype leading up to this week lived up to the billing.<\/p>\n

<\/p>\n

The week will be remembered for the abundance of technology offerings and, in particular, the performance and trading of Snowflake Inc (SNOW)<\/strong>.\u00a0<\/span><\/b><\/p>\n

In fact, there were two IPOs this week, Snowflake and Outset Medical, that closed their respective opening sessions more than 100% above their issue price.\u00a0 They were the 11th and 12th IPOs in 2020 to do such.<\/span><\/p>\n

\n

For IPO Boutique Research, Ratings and Commentary on all traditional IPO offerings (not direct listings), try us out: http:\/\/www.ipoboutique.com\/blog\/register\/<\/a><\/strong><\/p>\n

IPO Boutique: Indicate with Confidence.<\/em><\/p>\n

\n

\"\"<\/a><\/p>\n

Last week, we labeled Snowflake (SNOW)<\/strong> as potentially being the most high-profile deal of 2020\u2026 and after all was said and done it left a buzz in its wake.\u00a0<\/span><\/p>\n

Snowflake Inc. (SNOW) <\/b>priced a full-size deal, <\/span>28.0mm shares,<\/b> at <\/span>$120.00<\/b> ($10.00 above the upwardly-revised range) and<\/span> opened at $245.00 for a gain of 104.2% at first trade. <\/b>The stock spiked erratically out of the gates and was halted in the first two minutes. After the halt, SNOW hit <\/span>a high of $319.00 for a gain of 165.8% at the top. <\/b>Snowflake closed its first session at $253.93.\u00a0<\/span><\/p>\n

\"\"<\/a><\/p>\n

JFrog Ltd. (FROG) <\/b>priced a full-size deal, 11.6mm shares, at $44.00 ($3.00 above the upwardly-revised range) and <\/span>opened at $71.27 for a gain of 62% at first trade. <\/b>FROG hit an immediate high of $77 before trading lower and <\/span>closing the opening session at $64.79.\u00a0<\/b><\/p>\n

\"\"<\/a><\/p>\n

Unity Software, Inc. (U) <\/b>priced a full-size deal, 25.0mm shares, at $52.00 ($4.00 above the upwardly-revised range) and <\/span>opened at $75.00 for a gain of 44.2% at first trade.\u00a0<\/b><\/p>\n

\"\"<\/a><\/p>\n

Sumo Logic, Inc. (SUMO) <\/b>priced a full-size deal, 14.8mm shares, at $22.00 ($1.00 above the range) and <\/span>opened at $26.64 for a gain of 21.1% at first trade.<\/b><\/p>\n

The healthcare space followed a similar 2020-theme with all deals opening positive. Medical device company, Outset Medical (OM), opened the highest and traded the best in its opening week.\u00a0<\/span><\/p>\n

\"\"<\/a><\/b><\/p>\n

Outset Medical, Inc. (OM) <\/b>priced 8.95mm shares (upsized from 7.6mm) at $27.00 ($3.00 above the range) and <\/span>opened at $52.00 for a gain of 92.6% at first trade. OM\u2019s<\/b> first session range consisted of a low of $49 and a high of $61.75 before closing at $60.68. The stock hit a high of $65.00 in its first week as a publicly traded company <\/span>for a top tick of 140.7%.<\/b><\/p>\n

\"\"<\/a><\/p>\n

American Well Corporation (AMWL) <\/b>priced 41.2mm shares (upsized from 35.0mm shares) at $18.00 ($2.00 above the range) and <\/span>opened at $25.51 for a gain of 41.7% at first trade.\u00a0<\/b><\/p>\n

\"\"<\/a><\/p>\n

COMPASS Pathways plc (CMPS) <\/b>priced 7.5mm shares (upsized from 6.7mm) at $17.00 ($1.00 above the range) and<\/span> opened at $23.40 for a gain of 37.6%.\u00a0<\/b><\/p>\n

\"\"<\/a><\/p>\n

Dyne Therapeutics Inc. (DYN) <\/b>priced 12.3mm shares (upsized from 10.3mm shares) at $19.00 ($1.00 above the range) <\/span>and opened at $22.59 for a gain of 18.9% at first trade.<\/b><\/p>\n

\"\"<\/a><\/p>\n

Metacrine, Inc. (MTCR)<\/b> priced a full-size deal, 6.54mm shares, at $13.00 (midpoint of the range) and <\/span>opened at $14.39 for a gain of 10.7% at first trade.<\/b><\/p>\n

\"\"<\/a><\/p>\n

Athira Pharma, Inc. (ATHA)<\/b> priced 12.0mm shares (upsized from 10.0mm) at $17.00 (high-end of the range) and <\/span>opened at $19.95 for a gain of 17.4% at first trade.\u00a0<\/b><\/p>\n

Sectors outside the two main ones (tech, biotech) had an \u201cup-and-down\u201d type of performance.<\/span><\/p>\n

\"\"<\/a><\/p>\n

StepStone Group Inc. (STEP) <\/b>priced a full-size deal, 17.5mm shares, at $18.00 ($1.00 above the range) and<\/span> opened at $24.75 for a gain of 37.5% at first trade.<\/b><\/p>\n

\"\"<\/a><\/p>\n

Broadstone Net Lease Inc. (BNL)<\/b> priced a full-size deal, 33.5mm shares, at $17.00 (low-end of range) and <\/span>opened at $16.50 for a loss of 2.9% at first trade.<\/b><\/p>\n

There were two deals that priced below their original ranges this week and both underperformed.<\/p>\n

\"\"<\/a><\/p>\n

Pactiv Evergreen Inc (PTVE )<\/b> priced a full-size deal, 41.026mm shares, at $14.00 ($4.00 below the range) and <\/span>opened at $12.75 for a loss of 8.9% at first trade.\u00a0<\/b><\/p>\n

\"\"<\/a><\/p>\n

Vitru Limited (VTRU) <\/b>priced 6.0mm shares at $16.00 (low-end of the downwardly-revised range) and<\/span> opened at $16.25 for a gain of 1.6% at first trade. <\/b>The stock broke its issue price within minutes and traded well below the $16 issue price for most of its opening session.\u00a0<\/span><\/p>\n

Looking ahead to this week, there are six IPOs on the schedule:\u00a0<\/span><\/p>\n

Debuting Wednesday (9\/23)<\/strong><\/span><\/p>\n

Bentley Systems, Inc. (BSY) — <\/b>T<\/span>heir mission is to provide innovative software to advance the design, construction, and operations of the world\u2019s infrastructure\u2014sustaining both the global economy and environment, for improved quality of life.<\/p>\n

Corsair Gaming, Inc. (CRSR) —<\/b> \u00a0<\/b>They are a leading global provider and innovator of high-performance gear for gamers and content creators.\u00a0\u00a0<\/span><\/p>\n

GoodRx Holdings, Inc. (GDRX) — <\/b>\u00a0\u00a0They are building the leading, consumer-focused digital healthcare platform in the United States.\u00a0<\/span><\/p>\n

Debuting Thursday (9\/24)<\/strong><\/span><\/p>\n

Taysha Gene Therapies, Inc.\u00a0 (TSHA)<\/b> — They are a patient-centric gene therapy company focused on developing and commercializing AAV-based gene therapies for the treatment of monogenic diseases of the central nervous system in both rare and large patient populations.\u00a0<\/span><\/p>\n

Debuting Friday (9\/25)<\/strong><\/span><\/p>\n

Hygo Energy Transition Ltd. (HYGO) <\/b>— <\/b>\u00a0<\/span>They provide integrated downstream LNG solutions to underserved markets by delivering low cost, environmentally sound energy alternatives to consumers around the world.<\/p>\n

Laird Superfood, Inc. (LSF) <\/b>—\u00a0 <\/b>Laird Superfood is an emerging consumer products platform focused on manufacturing and marketing highly differentiated plant-based and functional foods.<\/p>\n

For IPO Boutique Research, Ratings and Commentary on all traditional IPO offerings (not direct listings), try us out: http:\/\/www.ipoboutique.com\/blog\/register\/<\/a><\/strong><\/p>\n

IPO Boutique: Indicate with Confidence.<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

It was one of the wildest weeks for the IPO market in recent memory. And any and all hype leading up to this week lived up to the billing.<\/p>\n","protected":false},"author":4,"featured_media":14624,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[24,2058,1536],"tags":[],"class_list":["post-14897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-spotlight","category-subscriber-content"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/14897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=14897"}],"version-history":[{"count":1,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/14897\/revisions"}],"predecessor-version":[{"id":14898,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/14897\/revisions\/14898"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media\/14624"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=14897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=14897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=14897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}