With more than 10M users in just five years, Slack took its popularity to the New York Stock Exchange, with the shares soaring on the first day of trading earlier this week.

LATEST IPOS:

Slack Technologies (WORK) opened on June 20 at $38.50. The workplace collaboration software company pursued a direct listing, rather than a traditional initial public offering. The New York Stock Exchange announced that Slack's reference price was set at $26 per share. A reference price is not an offering price or an opening price.

On Wednesday, ahead of the company’s direct listing, Atlantic Equities analyst Dimitri Kallianiotis started coverage of Slack with an Overweight rating and $37 price target. The analyst told investors that he believes the adoption of Slack within enterprises is "proving as viral as WhatsApp amongst consumers." Furthermore, he sees a long runway for growth as well as the potential for Slack to monetize its user base by becoming the main hub used to access all applications.

Prevail Therapeutics (PRVL) opened on June 20 at $15.31. The company had priced 7.35M shares at $17. Morgan Stanley, BofA/Merrill and Cowen acted as joint book running managers for the offering. Prevail Therapeutics is a biotechnology company developing potentially disease-modifying AAV-based gene therapies for patients with neurodegenerative disorders.

Grocery Outlet (GO) opened on June 20 at $31. The company had priced 17.19M shares at $22.00. The deal priced above the target $18.00-$19.00 range. BofA/Merrill, Morgan Stanley, Deutsche Bank and Jefferies acted as joint book running managers for the offering. Grocery Outlet operates a network of more than 300 independently-run discount grocery stores.

In a research note ahead of the company's IPO, MKM Partners analyst Rohit Kulkarni said that while he was not making a recommendation or initiating coverage on the stock, he feels bullish about Grocery Outlet's growth prospects, which are driven by a stable economic model, opportunistic sourcing model, and a greenfield growth opportunity.

Personalis (PSNL) opened on June 20 at $23.70. The company had priced 7.922M shares at $17. The deal size was increased to 7.9M shares from 6.6M shares and priced above the $14.00-$16.00 range. Morgan Stanley, BofA/Merrill and Cowen acted as joint book running managers for the offering. Personalis is a provider of contract research and genomic information on various cancers for biopharmaceutical research firms.

Akero Therapeutics (AKRO) opened on June 20 at $16.16. The company had priced 5.75M at $16. The deal size was increased from 5.0M shares and priced at the high end of $14.00-$16.00 range. JPMorgan, Jefferies and Evercore ISI acted as joint book running managers for the offering. Akero Therapeutics is developing treatment candidates for non-alcoholic fatty liver disease.

Atreca (BCEL) opened on June 20 at $20.30. The company had priced 7.35M shares at $17.00, at the midpoint of the $16.00-$18.00 target rage. Cowen, Evercore ISI and Stifel acted as joint book running managers for the offering. Atreca is developing immunotherapies for solid tumors.

Stoke Therapeutics (STOK) opened on June 19 at $27.21. The company had priced 7.89M shares at $18.00. The deal size was increased from 6.7M shares and priced above its target range of $14.00-$16.00. JPMorgan, Cowen and Credit Suisse acted as joint book running managers for the offering. Stoke is a biotech company aiming to treat rare inherited diseases caused by protein deficiencies.

PERFORMANCE:

• Slack soared in its first day of trading, ending Thursday at $38.62. On Friday afternoon, the shares are down 4% to $37.02.
• Prevail opened lower than expected and closed Thursday at $13.60. On Friday afternoon, the stock was up 3% at $14.06.  
• Grocery Outlet jumped in its trading debut on Nasdaq Stock Market, closing on Thursday at $28.51.
• Shares of Personalis have risen 6% to $30.28 on Friday after opening higher the day before. 
• Akero Therapeutics also opened higher, ending its first day of trading at $18.32. 
• On Friday, shares of Atreca have fallen about 5% to $17.18, after opening on Thursday at $19.90.
• After opening above its IPO price, Stoke has gained 1% to $26.32 in Friday trading.

UPCOMING IPOS: Among the upcoming IPOs are Bridgebio Pharma (BBIO), Change Healthcare (CHNG), Priam Properties (PRMI), Adaptive Biotechnologies (ADPT) and The RealReal (REAL).

Bridgebio Pharma is a drug discovery company aiming to treat genetic diseases. Bridgebio expects to raise up to $240M and be valued at about $1.84B.

Change Healthcare provides a wide range of IT services to healthcare organizations. The company intends to raise $750M in its IPO.

Priam Properties is a newly-formed REIT focused on office properties in the Midwest and Southeast and plans to raise $171M by offering 9M shares at a price range of $18-$20.

Adaptive Biotechnologies is a life-sciences research and clinical diagnostics company that views data from the immune system as the key to diagnosing and treating diseases. The company expects to raise up to $212.5M in the IPO, with a valuation of about $2.01B.

RealReal is an online marketplace for consigned luxury goods that has achieved unicorn status in private markets in just eight years. The company intends to raise up to $285M and be valued at about $1.57B.

Meanwhile, Dermavant Sciences (DRMT), a Phase 3 biotech developing in-licensed therapies for dermatological diseases, postponed its IPO on Thursday.