Market Overview

7 Best Performing IPOs Of 2016

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7 Best Performing IPOs Of 2016

As companies such as Snap Inc. and Uber wait in the wings to test the IPO waters in the coming year, it is time to take stock of how those new to the market in 2016 fared

Volumes, Value Down

The performance of the U.S. IPO market in the year 2016 could best be termed as lukewarm. Data compiled by Renaissance Capital — manager of IPO-focused ETFs show that 105 IPOs were priced in the U.S. market this year, which is down 38.2 percent from 170 in 2015 and 275 in 2014. The numbers are the lowest since 2009, when 63 IPOs were priced.

Total proceeds raised amounted to $18.8 billion, down 37.9 percent year-over-year. IPO filing activity also dwindled in 2016, with 123 filings as opposed to the 234 filings in 2015. About 40 percent of the IPOs of the year belonged to the healthcare sector despite the sector boasting of the dubious distinction of the worst performing sector of the year. Technology followed with a 20 percent share and financials and industrials stood at joint third, with a 10 percent share apiece.

Top 7

Here are the top 7 performers of the companies that offered their shares to the public in 2016:

1. AveXis Inc (NASDAQ: AVXS).

  • Gains (YTD): +169.70 percent.
  • Profile: Clinical stage gene therapy company developing treatment for neurological genetic diseases.
  • Offer Price: $20.
  • Offer Size: 4.75 million.
  • Listed Date: February 11.

2. IMPINJ Inc (NASDAQ: PI).

  • Gains (YTD): +169.70 percent.
  • Profile: Provider of solutions for locating and authenticating items using RAIN RFID.
  • Offer Price: $14.
  • Offer Size: 4.8 million.
  • Listed Date: July 21.

3. Acacia Communications, Inc. (NASDAQ: ACIA).

  • Gains (YTD): +112.02 percent.
  • Profile: Maker of optical networking products.
  • Offer Price: $23.
  • Offer Size: 4.5 million.
  • Listed Date: May 13.

4. Merus NV (NASDAQ: MRUS).

  • Gains (YTD): +99.70 percent.
  • Profile: Clinical stage immune-oncology company.
  • Offer Price: $10.
  • Offer Size: 5.5 million.
  • Listed Date: May 19.

5. Cotiviti Holdings Inc (NYSE: COTV).

  • Gains (YTD): +98.71 percent.
  • Profile: Provider of analytics-driven payment accuracy solutions, focused primarily on the healthcare sector.
  • Offer Price: $19.
  • Offer Size: 12.5 million.
  • Listed Date: May 26.

6. Protagonist Therapeutics Inc (NASDAQ: PTGX).

  • Gains (YTD): +86.33 percent.
  • Profile: Clinical-stage biotech company developing peptide-based oral drugs for inflammatory bowel disease.
  • Offer Price: $12.
  • Offer Size: 7.5 million.
  • Listed Date: August 11.

7. Reata Pharmaceuticals Inc (NASDAQ: RETA).

  • Gains (YTD): +63.89 percent.
  • Profile: Clinical-stage biotech company developing products that target serious, life-threatening diseases such as pulmonary arterial hypertension.
  • Offer Price: $11.
  • Offer Size: 5.5 million.
  • Listed Date: May 26.

Posted-In: IPO-focused ETFs IPOs Renaissance CapitalIPOs Top Stories Movers Trading Ideas General Best of Benzinga

 

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