After lowering its share price target range by 30% the day before, Casper Sleep (CSPR) opened on Thursday at $14.50 only to see a significant bump in early trading, with the online mattress maker's stock jumping by as much as 29%. However, Friday saw the stock slide back and fall below its $12.00 per share pricing level.

LATEST IPOS:

Casper opened on February 6 at $14.50 per share. The company had priced 8.35M shares at $12.00, at the low end of its revised $12.00-$13.00 target range. Casper Sleep's IPO range was lowered to $12.00-$13.00 from $17.00-$19.00 on the day prior to the offering. Morgan Stanley, Goldman Sachs and Jefferies acted as joint book running managers for the offering. Casper Sleep sells mattresses and sleep-related products direct to consumers.

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, he was impressed by the company’s multi-channel approach to retail after watching Casper’s IPO roadshow presentation. Nonetheless, he does not believe the company has shown any signs of sustainable unit economics.

Schrodinger (SDGR) opened on February 6 at $26.00. The company had priced 11.88M shares at $17.00. The deal size was increased from 10M shares and priced above the $14.00-$16.00 range. Morgan Stanley, BofA, Jefferies and BMO Capital acted as joint book running managers for the offering. Schrodinger sells drug discovery software and develops drug candidates in-house.

Beam Therapeutics (BEAM) opened on February 6 at $24.00. The company had priced 10.59M shares at $17.00. The deal size was increased from 6.25M shares and priced at the high end of the $15.00-$17.00 range. JPMorgan, Jefferies and Barclays are acting as joint book running managers for the offering. Beam Therapeutics is developing precision genetic medicines through base editing.

PPD, Inc. (PPD) opened on February 6 at $31.00. The company had priced 60M shares at $27.00, at the high end of the $24.00-$27.00 range. Barclays, JPMorgan, Morgan Stanley and Goldman Sachs acted as joint book running managers for the offering. PPD, Inc. provides contract research services to biopharmaceutical companies and researchers worldwide.

NexPoint Real Estate Finance (NREF) opened on February 7 at $19.00. The company had priced 5M shares at $19.00, at the low end of $19.00-$21.00 range. Raymond James, Keefe Bruyette and Baird acted as joint book running managers for the offering. NexPoint Real Estate Finance is seeking to operate as a mortgage REIT making loans to commercial property owners in the U.S.

OneWater Marine (ONEW) opened on February 7 at $15.02. OneWater had priced 4.615M shares at $12.00, the low end of its $1.200-$14.00 deal range. Raymond James, Baird and SunTrust acted as joint book running managers for the offering. OneWater Marine is a recreational boat retailer in the U.S., with 63 stores comprising 21 dealer groups in 11 states.

PERFORMANCE:

• Casper finished its first trading day at $13.40 after opening at $14.50. On Friday, the stock fell 18.15% and closed at $11.05.
• After opening at $26.00, Schrodinger finished Friday at $28.85.
• Beam Therapeutics ended the week at $20.62.
• In its first trading day, PPD, Inc. finished at $30.
• NexPoint Real Estate Finance finished the week at $18.80.
• OneWater Marine finished its first trading day at $15.14 after opening at $15.02.

UPCOMING IPOS: Among the upcoming IPOs are Passage Bio (PASG) and Revolution Medicines (RVMD).

Passage Bio has filed for a $125M IPO, which will bankroll the development of its three lead gene therapy programs in dementia, Krabbe disease and rare childhood disease GM1 gangliosidosis.

Revolution Medicines is advancing drug candidates for the treatment of solid tumors and other cancers.