07.13.20-07.17.20 IPO Summary: Three IPOs finish week +100% (!) (FREE)

The week will be remembered for the eye-popping opening prints by many deals and a record setting first session by nCino Inc. 

IPO Boutique rated a pair of deals this week with our highest rating — a five. This was just the fifth and sixth ‘5-rated’ deal since 2012 and they performed impressively.

nCino Inc (NCNO) priced 8.06mm shares (upsized from 7.625mm) at $31.00 ($7.00 above the original $22-$24 range and $2.00 above the upwardly-revised $28-$29 range) and opened at $71.00 for a gain of 129% at first trade. nCino closed its opening session at $91.59 for a gain of 195.5%. That is the best first day close of an IPO in 2020. 

Berkeley Lights, Inc. (BLI) priced 8.1mm shares (upsized from 7.4mm) at $22.00 ($2.00 above the upwardly-revised $19-$20 range) and opened at $51.05 for a gain of 132.0% at first trade.

Relay Therapeutics Inc. (RLAY) priced 20.0mm shares at $20.00 ($1.00 above the already upwardly-revised range) and opened at $35.00 for a gain of 75.0% at first trade. RLAY traded well in its first and second sessions and closed Friday at $43.98 or 119.9% above the issue price.

ALX Oncology Holdings Inc. (ALXO) priced 8.5mm shares (upsized from 8.0mm) at $19.00 ($2.00 above the range) and opened at $36.50 for a gain of 92.1% at first trade.

GoHealth, Inc. (GOCO) priced 43.5mm shares (upsized from 39.5mm) at $21.00 ($1.00 above range) and opened at $25.00 for a gain of 19.0% at first trade.

Pandion Therapeutics, Inc. (PAND) priced 7.5mm shares (upsized from a previously upsized 7.0mm) at the high-end of the range, $18.00, and opened at $27.00 for a gain of 50.0% at first trade. PAND traded poorly in its opening session and even broke issue at one point.

Trean Insurance Group, Inc. (TIG) priced a full-size deal, 10.7mm shares, at the high-end of the range, $15.00, and opened at $17.05 for a gain of 13.7% at first trade.

Renalytix AI plc (RNLX) priced a full-size deal, 5.5mm ADSs, at $13.50 and opened at $13.90  for a gain of 3.0% at first trade.

It should be noted that one IPO that was scheduled to debut this week, ACell Inc (ACLL), did not price and is considered to be in day-to-day status.