It was quite an interesting year so far for the IPO market with over 100 companies making their public debut. These include some of the most-watched companies such as Uber (NYSE: UBER), Lyft (NASDAQ: LYFT), Beyond Meat (NASDAQ: BYND), CloudStrike (NASDAQ: CRWD) and Pinterest (NYSE: PINS).
Let’s take a look at the nine stocks that have returned above 100% returns since their public listing. Before we go ahead, let us remind you that IPO stocks tend to be more volatile in the initial days of trading and this is not a yardstick to measure the stock’s long-term outlook. On the other hand, it may be used to measure the current investor confidence in the stock.
9. NextCure (NASDAQ:
Return till date: 103%
Date of IPO: May 9, 2019
NextCure is a Maryland-based clinical-stage biopharmaceutical company that focuses on immune-oncology. Though market cap is only around $700 million, the stock has relatively better institutional ownership of about 12%. NextCure also has a research partnership inked with Eli Lilly and Company (NYSE: LLY).
Earlier this month,
the company reported a quarterly loss of 61 cents per share, which was a big
cut down from last year’s loss of $3.82 per share.
8. Silk Road Medical (NASDAQ:
Return till date: 110%
Offer date: April 4, 2019
This Sunnyvale, California-based firm develops stroke prevention devices. Its flagship treatment called transcarotid artery revascularization (TCAR) is a minimally invasive technique to treat carotid artery disease, which is considered among the primary causes of stroke.
The company had offered 6 million shares for $20 apiece, which ended the first trading day at $36.18. The company currently has a market cap of $1.32 billion.
7. Adaptive Biotechnologies (NASDAQ:
Return till date: 121%
Offer date: June 27, 2019
This biotech company founded in 2009 studies immune-driven medicine and has a market cap of $5.5 billion. The stock, which was offered at $20 apiece, doubled on the very first day of trading. Despite reporting a wider-than-anticipated quarterly loss earlier this month, the stock has resisted a prolonged sell-off.
has a 7-year partnership with tech giant Microsoft (NASDAQ:
MSFT) which includes sharing of some intellectual properties. It also
allows Adaptive to use Microsoft’s machine learning resources to map immune
systems for research purposes.
6. Palomar Holdings (NASDAQ:
Return till date: 126%
Offer date: April 17, 2019
Palomar Holdings is a specialty property insurance based in La Jolla, California. Founded in 2013, the company has $798.06 million in market cap. The stock, which has been witnessing a slow but steady growth, received a major boost after reporting a 56% increase in quarterly gross written premiums and a 15% improvement in net income earlier this month.
The company has
floated 5.6 million shares in the stock market.
5. ShockWave Medical (NASDAQ:
Return till date: 135%
Offer date: March 7, 2019
ShockWave Medical is the second medical device manufacturer on the list. It provides intravascular lithotripsy system, minimally invasive treatment for cardiovascular diseases. During the most recent quarterly results, the Santa Clara, California-based firm reported higher revenues and lower net losses, driven by strong demand in both the US and international markets.
The company also
raised its revenue guidance for the full year.
4. Zoom Video Communications (NASDAQ: ZM)
Return till date: 155%
Offer date: April 18, 2019
tech mammoth has been doing exceptionally well since its public debut earlier
this year. The stock ended its first trading day at $62, after being offered at
$36 per share.
The cloud-based video conferencing service giant has ties with other workplace services provided by Dropbox (NASDAQ: DBX), Microsoft and Google (NASDAQ: GOOGL), making it more attractive compared with its peers. In June, the company reported strong earnings and cash flow, boosting the stock rally.
3. CrowdStrike Holdings (NASDAQ:
Return till date: 161%
Offer date: June 12, 2019
You have probably heard about Crowdstrike already. It has
previously unraveled a few high-profile hack incidents, including tracing the
2016 Democratic National Committee email leak to Russia. It has also
revealed the source of 2014 Sony Pictures hack to North Korea, besides helping
law enforcement agencies nab the culprits in Chinese espionage on the US.
The cybersecurity company last month said its quarterly revenues doubled on strong subscription growth. Net loss
also came in better than expected.
2. Turning Point Therapeutics (NASDAQ:
Return till date: 200%
Offer date: April 17, 2019
biopharmaceutical company issued 9.3 million shares for $18 apiece, which
closed at $28.9 at the end of the first day of trading. The company has a pipeline
of tyrosine kinase inhibitors that target numerous genetic drivers of cancer.
The company recently initiated a Phase 1 clinical study of patients with advanced solid tumors harboring genetic alterations.
1 . Beyond Meat (NASDAQ: BYND)
Return till date: 520%
Offer date: May 2, 2019
Beyond Meat is the clear winner among IPO stocks this year. Not only did the plant-based meat company enjoy an enormously successful IPO, it has managed to maintain the momentum through two-quarters of wide net losses.
The company has constantly been criticized by sell-side analysts for its outlandish valuation, and yet investors are reluctant to part ways with it. The veggie company founded in 2009 produces burgers, sausage, crumbles and strips from the plant-based meat.