IPO Weekly Recap – 8.07.2015

This past week five IPOs debuted, one updated terms and one new deal was filed.

The two biotech deals that came to market were well-received by the IPO market. Aimmune Therapeutics (Nasdaq: AIMT) priced at the high end of the range, $16.00, and opened with a $1.50 premium. ‘AIMT’ traded as high as $27.00 on the opening day, a gain of 69% above the offering price. Zynerba Pharmaceuticals (Nasdaq: ZYNE) priced at $14.00 and opened at $18.00 or 29% higher. ‘ZYNE’ also traded well in the aftermarket and hit a first week high of $24.90.

There were a pair of deals that channel checked with considerable strength, Amplify Snack Brands (NYSE: BETR) and Planet Fitness (NYSE: PLNT), that opened below their respective offering price. These weak openings happened despite the deals being many-multiple-times oversubscribed. It is our opinion that the underwriters evidently put these deals in weak hands and with a weak market tape made this a combustible mixture. It should be noted that ‘PLNT’ surged on its second day of trading, hitting a high of $18.45 or 15% above the offering price, before closing the week at $18.25.

It should be noted that Philadelphia Energy Solutions (NYSE: PESC) did not price this week and was postponed due to the overall concern of the energy market.  Additionally, GC Aesthetics (Nasdaq: GCAA) did not debut as expected and the underwriters continue to say that this deal is in ‘day-to-day’ status.

Looking ahead to this week, there are just three deals on the schedule for this week and we are hearing early, positive street chatter about…

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IPO Schedule: Week of August 10

Please check your emails early and often. We may upgrade or downgrade an IPO and or secondary –sometimes with not as much notice as we would like to give. If you have interest in IPOs do NOT delay your IOI’s (hopefully they are already in)…you can always cancel them. We will keep you posted if and as when…we have anything pertinent to add. The current number of “active” IPOs in the pipeline as of 8/7/15 is 125.  Good luck trading!