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 Stock
€109.50
-0.450%
Based on 5 Buy predictions and 4 Sell predictions the sentiment towards Novartis AG ADR is rather balanced.
However, we have a potential of -8.68% for Novartis AG ADR as the target price of 100 € is below the current price of 109.5 €.
