The week's largest IPO, commercial REIT Essential Properties ( EPRT), raised $455 million but traded off -3%.Ĭoming Up: the Busiest Week, in the Busiest Month The white-hot tech sector also saw one IPO: i3 Verticals ( IIIV) gained 33%. In the past few weeks, returns from 2018 biotech IPOs have improved drastically, now averaging 28%. " Biotech week" was largely a success: most of the 8 development-stage health care companies priced upsized IPOs, and the group averaged a 30% return, with Autolus ( AUTL) and AVROBIO ( AVRO) at the top. Unusually, 8 of the 10 raised more proceeds than expected, and only 1 raised less. They traded very well, however, averaging a 27% gain. With a flood of biotechs, most of the IPOs this week had heavy insider buying, and no revenue. 10 IPOs brought in $1.3 billion this past week, along with 3 SPACs raising $540 million.
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