Speaking of overlooked, there were six other IPOs scheduled to begin trading this week. Wisely none chose to go out on the same day as Alibaba.
The IPO week started on Wednesday with Civitas Solutions Inc. (NYSE: CIVI), which claims to be the country’s leading provider of in-home and community-based health services. Shares priced at $17, well below the expected range of $20 to $23, and dipped to $16.16 on its opening day. Shares closed at $16.61 on Thursday.
A clinical-stage biopharmaceutical company developing treatments for prostate cancer and other hormonally driven diseases, Tokai Pharmaceuticals Inc. (NASDAQ: TKAI) also began trading on Wednesday. The company upsized its offering from 5.4 million shares to 6.5 million and priced the shares at $15, the top of the expected range. The stock jumped above $28 before closing its first trading day at $23.76. Shares closed Thursday at $19.77 and traded down another 3.6% in Friday’s premarket session to $19.05.
Foamix Ltd. (NASDAQ: FOMX) is an Israel-based clinical-stage pharmaceutical firm developing a foam treatment for acne, impetigo and other skin conditions. The company upsized the number of shares on offer from 5.9 million to 6.7 million, but priced the shares at $6, way below the expected range of $10 to $12. After popping to $11 shortly after trading began on Thursday, shares closed at $6.22, and they traded at $6.14 in Friday’s premarket.
Dutch biopharma firm ProQR Therapeutics B.V. (NASDAQ: PRQR) is developing RNA-based therapeutics for treating severe genetic disorders. ProQR also upsized the number of shares it offered on Thursday, from 6.3 million to 7.5 million, and priced the shares at $13, the top end of its expected range. Shares peaked at $21.87 before closing at $14.73. The stock was trading down about 2.2% in Friday’s premarket session.
Two other IPOs scheduled for this week have been delayed: Viking Therapeutics and rEVO Biologics are both currently listed as day-to-day regarding pricing and trading dates.
ALSO READ: Six Stocks Portfolio Managers Are Selling to Fund New Alibaba Stakes
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
