{"id":18592,"date":"2021-04-16T16:37:37","date_gmt":"2021-04-16T20:37:37","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=18592"},"modified":"2021-04-17T11:43:57","modified_gmt":"2021-04-17T15:43:57","slug":"04-12-21-04-16-21-ipo-summary","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/04-12-21-04-16-21-ipo-summary\/","title":{"rendered":"04.12.21-04.16.21 IPO Summary: Alkami, Coinbase debut strong, Applovin falls hard"},"content":{"rendered":"

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Eight IPOs and a direct listing came to market in another robust week for new issues.<\/p>\n

Of the eight ‘traditional IPOs’ that came to market, six priced at the high-end or above their original filing ranges.<\/p>\n

Biotech and healthcare offerings were particularly strong again this week.<\/p>\n

Recursion Pharmaceuticals Inc (RXRX)\u00a0<\/strong>priced\u00a024.2mm shares\u00a0<\/strong>(upsized from original filing range of 18.0mm shares)\u00a0at $18.00\u00a0<\/strong>(high-end of the $16-$18 range) and opened\u00a0at $30.00 for a gain of 66.7% at first trade. RXRX<\/b> closed the week at $31.30 for a gain of 74% for its first session.<\/p>\n

Akoya Biosciences, Inc. (AKYA)<\/strong>\u00a0priced a full-size deal,\u00a06.6mm shares, at $20.00\u00a0<\/strong>(high-end of the $18-$20 range) and\u00a0opened at $26.00 for a gain of 30.0% at first trade.<\/strong><\/p>\n

Biomea Fusion Inc (BMEA)\u00a0<\/strong>priced\u00a09.0mm shares<\/strong>\u00a0(upsized from 7.5mm)\u00a0at\u00a0$17.00\u00a0<\/strong>(high-end of the $15-$17 range) and\u00a0opened $20.00 for a gain of 17.6% at first trade.<\/b><\/p>\n

agilon health, Inc. (AGL)<\/strong>\u00a0priced a full-size deal,\u00a046.6mm shares<\/strong>, at the high-end of the range,\u00a0$23.00<\/strong>, and opened at\u00a0$28.25 for a gain of 22.8% at first trade. AGL\u00a0<\/strong>traded at high as $33.94 for a top tick of 48% above the issue price before closing Friday’s session at $30.00 or 30.4% in the black.<\/p>\n

Technology IPOs continued to come under pressure this past week.<\/p>\n

Alkami Technology Inc (ALKT) <\/strong>avoided that fate by pricing a full-size deal, 6.0mm shares, at $30.00<\/strong>\u00a0($2 Above the upwardly-revised range) and\u00a0opening at $41.26 for a gain of 37.5% at first trade.\u00a0<\/strong>The stock maintained its initial pop and closed the week at $42.13.<\/p>\n

TuSimple Holdings Inc (TSP)\u00a0<\/strong>priced a full-size deal,\u00a033.8mm shares<\/strong>,\u00a0at $40<\/strong>\u00a0($1 Above the $35-$39 Range) and\u00a0opened at $40.25 for a gain of 0.6% at first trade.\u00a0<\/strong>The stock briefly hit a high of $40.67 to achieve IPO Boutique’s ‘3’ rating, however, the aftermarket action was abysmal after that. TSP hit a low of $32.13 in its opening session (close to 20% down!) before rebounding. The stock closed on Friday at $39.95.<\/p>\n

Applovin Corporation (APP)\u00a0<\/strong>priced a full-size deal,\u00a025.0mm shares<\/strong>, at the midpoint of the range,\u00a0$80.00<\/strong>, and\u00a0opened at $70.00 for a loss of 12.5% at first trade.\u00a0<\/strong>The selling did not stop there as APP closed Friday at $61.00 or 23.8% below issue.<\/p>\n

Disposable foodservice products company, Karat Packaging<\/strong>, came to market with success despite pricing\u00a0 below-range. Karat Packaging (KRT)\u00a0<\/strong>priced a full-size deal,\u00a03.95mm shares, at $16.00<\/strong>\u00a0($2 Below the $18-$20 range) and\u00a0opened at $18.60 for a gain of 16.3% at first trade.<\/strong><\/p>\n

The high-profile direct listing, Coinbase Global Inc (COIN)<\/strong>, set a reference price of $250.00 and opened for trade at $381.00. The stock, as expected, experienced significant volatility and traded as high as $429.54 and as low as $310.00 in its first week. The cryptocurrency exchange closed the week at $342.00.<\/p>\n

Looking ahead to this week, there are currently eight IPOs on the schedule.<\/p>\n

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Wednesday (4\/21) Debut<\/strong><\/span><\/p>\n