The initial public offering (IPO) market remained active last week, with 16 traditional IPOs raising more than $6.3 billion in their debuts.
In the largest deal of the week, Full Truck Alliance Co. Ltd. (NYSE: YMM) raised $1.6 billion by pricing its shares at the high end of its range in its debut. The Chinese freight platform, which is the largest digital freight platform by gross transaction values, ended the week up 4%.
In the week's best performance, Doximity, Inc. (NYSE: DOCS) finished the week up 115% after pricing its shares above the range to raise nearly $606 million in its debut. The self-proclaimed leading digital platfrom for U.S. medical professionals, which allows for collaboration and secure coordination of patient care, benefits from the accelerating digitalization trends in the healthcare industry.
Here's the rest of the week's debuts by offering amount:
Bright Health Group Inc. (NYSE: BHG) priced its downsized offering below its range to raise more than $924 million. The insurer's core business serves roughly 623,000 patients in 14 states across the United States. The stock ended the week down 4%.
Confluent, Inc. (NASDAQ: CFLT) priced its shares above its range to raise $828 million. The company's data infrastructure offering is designed to connect all applications, systems, and data layers of a company for better organization and management. The stock finished the week up 28%.
Mister Car Wash, Inc. (NYSE: MCW) priced its shares at the low end to raise nearly $563 million. The cash wash brand is the national car wash brand in the United States, with 344 locations in 21 states. The stock ended the week up 35%.
First Advantage Corp. (NASDAQ: FA) priced its upsized offering at the high end to raise nearly $383 million. The Human Resources solutions provider finished the week up 37%.
Missfresh Ltd (NASDAQ: MF) priced its shares at the low end to raise $273 million. The Chinese grocery delivery platform allows users to purchase groceries from their phone to be delivered to their door by an associate delivery driver. The stock ended the week down 26%.
Sprinklr, Inc. (NYSE: CXM) priced its downsized offering below the range to raise $266 million. The customer experience software provider helps enterprises create a unified view of each customer at scale. The stock finished the week up 28%.
Graphite Bio, Inc. (NASDAQ: GRPH) priced its upsized offering at the high end to raise $238 million. The gene-editing biotech's lead candidate--which aims to correct the mutation that causes sickle cell disease and restore normal adult hemoglobin expression--has received Investigative New Drug (IND) clearance from the Food and Drug Administration (FDA), and expects to begin clinical trials in the second half of the year. The stock ended up 9%.
Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE) priced its upsized offering at the high end to raise more than $222 million. The oncology-focused biotech plans to submit an IND in the first half of 2022 for its lead candidate. The stock ended the week down 1%.
GH Research PLC (NASDAQ: GHRS) priced its upsized offering at the high end to raise $160 million. The Irish DMT research biotech is currently developing its proprietary 5-MeO-DMT compound for Treatment-Resistant Depression. The stock finished the week up 20%.
Elevation Oncology, Inc. (NASDAQ: ELEV) priced its shares at its midpoint to raise $100 million. The oncology-focused biotech has initiated a Phase 2 trial of its lead candidate for the treatment of advanced solid tumors harboring an NRG1 fusion. The stock ended the week down 29%.
Alpha Teknova, Inc. (NASDAQ: TKNO) priced its upsized offering at the high end to raise $96 million. The biopharmaceutical reagents provider enables the discovery, research, development and production of biopharmaceutical products. The stock finished up 56%.
Miromatrix Medical Inc. (NASDAQ: MIRO) priced its upsized offering at the high end to raise more than $43 million. The company is developing a novel technology for bioengineering fully transplantable organs, with initial focus on livers and kidneys. The stock ended the week up 42%.
Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) priced its shares at its midpoint to raise $15 million. The biotech is developing a new class of antibiotics for bacterial infections, with its lead candidate expected to begin a Phase 2b clinical trial later this year. The stock finished up 32%.
Grove, Inc. (NASDAQ: GRVI) priced its shares at the midpoint to raise $11 million. The CBD products company develops, produces, markets, and sells raw materials, white label products, and end customers products containing CBD. The stock ended the week up 57%.