IPO Recap: Solar, Healthcare shine in another strong IPO week

It was another busy week of IPO activity with strong outcomes. Healthcare continued to produce great results and a company in the solar energy field traded extremely well.

Solar stock, Array Technologies, Inc. (ARRY), priced 47.5mm shares (upsized again) at $22.00 ($1.00 above the range) and opened at $29.50 for a gain of 34.1% at first trade. ARRY closed its first session at $36.45 and traded as high as $41.94 during Friday’s session for a top-tick of 90.6% above the IPO price.

The lone China-based company to go public this week opened strong but sold off at the end of its first session. MINISO Group Holding Limited (MNSO) priced a full-size deal, 30.4mm ADSs, at $20.00 ($1.50 above range) and opened at $24.40 for a gain of 20% at first trade. MNSO closed its first day of trading at $20.88. 

Medical technology continued to shine with Eargo, Inc. (EAR) pricing 7.8mm shares (upsized from 6.67mm shares) at $18.00 ($2.00 above range). EAR opened at $36.00 for a gain of 100% at first trade and moved as high as $43.80 in its first hour as a publicly traded company. 

Praxis Precision Medicines, Inc. (PRAX) priced 10.0mm shares at $19.00 ($1.00 above the $17-$18 range) and opened at $25.94 for a gain of 36.5% at first trade.

Tarsus Pharmaceuticals, Inc. (TARS) priced 5.5mm shares (upsized from 5.0mm shares) at the midpoint of the range, $16.00, and opened at $16.20 for a gain of 1.25% at first trade. TARS did break issue in its first 15 minutes after opening but rallied back to the issue price.

Aligos Therapeutics, Inc (ALGS) priced a full-size deal, 10.0mm shares, at the midpoint of the range, $15.00, and opened at $17.40 for a gain of 16.0% at first trade. ALGS, which needed a lengthy period to match buyers with sellers, broke issue price within 20 minutes. 

Codiak BioSciences, Inc. (CDAK) priced a full-size deal, 5.5mm shares, at the midpoint of the range, $15.00, and opened at $14.10 for a loss of 6.0% at first trade. CDAK traded as low as $11.50 in its opening week before leveling off at the $12 level.

Opthea Limited (OPT) priced 9.5mm shares (slightly upsized) at $13.50 and opened at $11.05 for a loss of 18.1% at first trade.

Spinal Elements Holdings, Inc.(SPEL) —   This offering was postponed due to market conditions. There is no further information available at this time.

Looking ahead to this week, there are currently three IPOs on the schedule 

Debuting Wednesday (10/21)

Datto Holding Corp. (MSP) — Datto is the leading provider of cloud-based software and technology solutions purpose-built for delivery through the managed service provider, or MSP, channel to small and medium businesses, or SMBs. 

Debuting Thursday (10/22)

Guild Holdings Company (GHLD) —   They are a growth-oriented mortgage company that employs a relationship-based loan sourcing strategy to execute on their mission of delivering the promise of home ownership in neighborhoods and communities across the United States. 

McAfee Corp. (MCFE) —   McAfee has been a pioneer and leader in protecting consumers, enterprises, and governments from cyberattacks for more than 30 years with integrated security, privacy, and trust solutions