By March 28, 2013, 32 IPOs had been priced, according to the U.S. Securities and Exchange Commission’s filings. The quarter ended a few days early because the Good Friday holiday fell on March 29, when the U.S. stock market was closed. Here’s the Q1-2013 report card:
- Up: 26
- Down: 6
- Average gain: 20.9 percent
- NASDAQ Composite Index: UP 8.21 percent
The Hero:
ExOne Company (XONE), a North Huntingdon, Pennsylvania-based provider of 3D printing machines and printed products, priced its IPO of 5.3 million shares at $18 each on Feb. 6. Its IPO closed at $33.50 on Thursday, March 28 – UP 86.1 percent from its initial offering price.
The Goat:
KaloBios Pharmaceuticals (KBIO), a South San Francisco biopharmaceutical company focused on the development of monoclonal antibody therapeutics, priced its IPO of 8.8 million shares at $8 each on Jan. 29. It closed at $5 on Thursday – DOWN 25 percent from its initial offering price.
Looking Back at Q1-2012
On March 30, 2012, 41 IPOs had been priced. Here’s the Q1-2012 report card:
- Up: 35
- Down: 6
- Average gain: 32.8 percent
- NASDAQ Composite Index: UP 18.8 percent
The Hero Then:
Guidewire Software (GWRE) is a Forester City, California-based provider of system software to the property/casualty insurance industry that is delivered through a Web-based interface and can be used either on premises or in cloud environments. Guidewire priced its IPO of 8.85 million shares at $13 each on Jan. 24, 2012. It closed at $30.78 on March 30, 2012 – UP 136.8 percent from its IPO price.
(Note: A year later on March 28, 2013, Guidewire closed at $38.44 per share, UP 195.7 percent from its initial offering price.)
The Goat Then:
Vipshop Holdings (VIPS), a China-based online discount retailer, priced its IPO of 11 million American Depositary Shares at $6.50 each on March 11, 2012. It closed at $4.39 on March 30, 2012 – DOWN 32.5 percent from its initial offering price.
(Note: A year later on March 28, 2013, Vipshop closed at $30.37 per share, UP 591.8 percent from a year ago.)
Tracking the Past 52 Weeks
While we’re at it, let’s look over the last 52 weeks.
From April 1, 2012, through March 28, 2013, 132 IPOs were priced. Here’s the 52-week report card, which earns an A:
- Up: 98
- Down: 24
- Unchanged: 1
- Average gain: 32.8 percent
- NASDAQ Composite Index: UP 5.69 percent
The Hero
WageWorks (WAGE), a San Mateo, California-based on-demand provider of tax-advantaged programs for consumer-directed health, commuter and other employee spending account benefits, priced its IPO of 6.5 million shares at $9 each on May 9, 2012. It closed at $25.03 on Thursday, March 28, 2013, UP 178.2 percent from its initial offering price.
The Goat
Envivio (ENVI), a South San Francisco-based provider of IP video processing and distribution solutions, priced its IPO of 7.8 million shares at $9 each on April 24, 2012. It closed at $1.70 on Thursday, March 28, 2013, DOWN 81.1 percent from its initial offering price.
Texas and Money
This brings us to this week, which kicks off with April Fool’s Day, of course. The calendar has two deals, one a carryover from past weeks and one new face. Independent Bank Group (IBTX – proposed) is the new face on the calendar.
Based in McKinney, Texas, Independent Bank Group is a bank holding company. It expects to price 3.2 million shares at $24 to $26 each on Tuesday evening, April 2nd, and to start trading on Wednesday morning.
That brings us to next week. Stay tuned.
Disclosure: Neither the author nor anyone else on the IPOScoop.com staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and IPOScoop.com staff do not issue advice, recommendations or opinions.