IPO Weekly Recap: Biotech Bingo!

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Biotech bingo hit across the board as the seven in the sector averaged 26.7% returns at first trade.

The two best of the week turned out to be Autolus Therapeutics (AUTL) and AVROBio, Inc (AVRO) which opened 65% and 54% above their offering prices, respectfully.

Kezar Life Sciences (KZR) and Eidos Therapeutics (EIDX) fell in line nicely with opening trades of +33% and +18% versus their offering prices, respectfully. EIDX, which batted lead-off on biotech week, traded as high as $24.75 on its opening day for a return of 46% above its $17.00 offering price.

Xeris Pharmaceuticals (XERS) opened with a $0.75 premium above its $15.00 issue price and also traded very well — touching $20.28 during its debut day.

Aptinyx Inc (APTX) enjoyed a 8.7% return at first trade with a $17.40 opening following its issuance of shares at $16.00. APTX traded as high as $20.88 in its opening week.

Magenta Therapeutics (MGTA) opened $0.50 above its $15.00 issue price and traded to as high as $16.33 early on but succumbed to selling pressure and was the only biotech to trade below its issue price in the opening week.

Medical device company, Electrocore LLC (ECOR), upsized its offering and priced at the midpoint of the range, $15.00. ECOR opened 20% above the offering price with a first trade of $18.00.

Outside of the healthcare sector, i3 Verticals (IIIV), debuted with strength as expected. After pricing at the high end of the range, $13.00, IIIV opened at $18.00 for a gain of 38.5% at first trade. Essential Properties Trust (EPRT) priced at the low-end of its range, $14.00 and opened $0.51 below issue. EPRT did not trade above its IPO price during its opening week- at the time of this writing.

As for this week, it will be the ‘final rush’ ahead of the July 4th holiday week as twelve IPOs are coming to market. Click on the logo to read a preview of each IPO!\