Why Avidity Biosciences Stock Blasted 42% Higher Today
A richly priced buyout seriously boosted the share price of biotech Avidity Biosciences (NASDAQ: RNA) as the stock trading week began. The company's equity rose by 42%, closing to land just below the buyout price. This leap looked quite impressive next to the S 500 (SNPINDEX: ^GSPC), as the bellwether stock indicator only increased by 1.2% on the day.
The purchasing party is global pharmaceutical company , which on Sunday divulged that it and Avidity had agreed to the acquisition. Under its terms, Switzerland-based Novartis will pay $72 per share for Avidity in an all-cash transaction. That's 46% higher than Avidity's closing share price last Friday.
Image source: Getty Images.
Source Fool.com
Novartis AG ADR Aktie
125,50 €
1,20 %
Positive Stimmung für Novartis AG ADR mit mehreren Buy- gegenüber Sell-Einschätzungen.
Ein positives Kurspotenzial für Novartis AG ADR ist gegeben, mit einem Kursziel von 135 € über dem aktuellen Kurs von 125.5 €.
