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.
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Source Fool.com
Novartis AG ADR Aktie
107,50 €
0,00 %
Gleichstand bei Novartis AG ADR: 5 Buy-Einschätzungen entsprechen 4 Sell-Einschätzungen.
Ein unerwartetes negatives Potenzial von -6.98% für Novartis AG ADR, trotz eines niedrigeren Kursziels von 100 € als der aktuelle Kurs von 107.5 €.
