SAGE Therapeutics led a big day for VC-backed companies going public last Friday. The company listed on the NASDAQ under the symbol SAGE and priced at $18, the top of its expected price range, raising $90 million. SAGE closed on its first day of trading at $30.10, up about 67% from its IPO price. No major shareholders participated in the offering, as Third Rock Ventures (58.5% pre-IPO stake), ARCH Venture Partners (21.3%) and Fidelity Investments (5.6%) held on to all of their shares.
Three other VC-backed companies went public on Friday. TubeMogul raised $43 million, pricing its shares at $7 (lower than its $11-$13 estimated range); Trupanion, a medical insurance company for pets, priced at $10 per share and grabbed $70 million in its offering; and Globant raised $59 million at its IPO price of $10 per share. All four companies closed their first day of trading above list price.