Avidity Biosciences Surges as Acquisition by Novartis is Confirmed

Avidity Biosciences Stock Price Surge

Shares of Avidity Biosciences Inc (NASDAQ: RNA) recently experienced a notable increase in pre-market trading after the company confirmed its acquisition by Novartis AG (NYSE: NVS). This strategic move is set to transform the landscape for investors involved with Avidity, as it will provide significant financial upside.

Acquisition Details Revealed

Cash Offer Per Share

Avidity shareholders are slated to receive $72.00 per share at the acquisition's closing, translating to an impressive premium of approximately 46% over Avidity's previous closing share price. Investors are responding positively to this substantial valuation improvement, resulting in a surge of 42.1%, pushing shares to $69.85 in pre-market trading.

Key Market Movements in Pre-Market Trading

Following the announcement regarding Avidity, several stocks also saw significant movements in pre-market trading.

Notable Gainers

• Click Holdings Limited (NASDAQ: CLIK) experienced remarkable growth of 173%, reaching $16.83 after the release of their FY25 financial results.
• Treasure Global Inc (NASDAQ: TGL) surged by 52.4% to $1.10, following an announcement of an inducement grant under Nasdaq Listing Rule 5635(c)(4).
• Banco BBVA Argentina SA (NYSE: BBAR) increased by 31.3% to $13.27, reflecting a strong investor interest.
• Grupo Financiero Galicia SA (NASDAQ: GGAL) rose by 29.3%, with shares trading at $45.79.
• Grupo Supervielle SA – ADR (NYSE: SUPV) gained 29.1%, priced at $8.69.
• Banco Macro SA ADR Class B (NYSE: BMA) advanced by 26.3%, achieving a trading price of $72.60.
• Strive Inc (NASDAQ: ASST) found a rise of 22.8%, priced at $1.35, as the company pivots to a Bitcoin-focused asset management model.
• Dyne Therapeutics Inc (NASDAQ: DYN) appreciated 21.3% to $20.77.
• Vista Energy SAB de CV – ADR (NYSE: VIST) gained 18.1%, rising to $47.27.

Key Losers in Trading

• Picard Medical, Inc. (NYSE: PMI) witnessed a substantial drop of 65.3%, trading at $4.61.
• Genenta Science SPA (NASDAQ: GNTA) fell by 32.3% to $4.20, influenced by a direct offering announcement.
• Wellgistics Health Inc (NASDAQ: WGRX) decreased by 31.5%, now at $0.79 after a previous substantial gain.
• Tianci International Inc (NASDAQ: CIIT) dipped 29% to a low of $0.70.
• 374Water Inc (NASDAQ: SCWO) saw a decline of 22.2%, priced at $0.36.
• MaxsMaking Inc (NASDAQ: MAMK) dropped by 17.7% to $4.35 after a significant rise in prior sessions.
• United States Antimony Corp (NYSE: UAMY) fell 15.6%, trading at $10.12.
• Nanobiotix SA – ADR (NASDAQ: NBTX) experienced a 13.1% decrease, now priced at $16.68.
• Critical Metals Corp (NASDAQ: CRML) decreased by 8.2%, with shares trading at $13.80.
• American Resources Corp (NASDAQ: AREC) fell 7.8% to $3.57 after recent gains.

Conclusion

The acquisition of Avidity Biosciences by Novartis marks a pivotal moment for shareholders and underscores the volatility of the stock market, particularly in the biotechnology sector. Investors are encouraged to keep a close eye on these developments as they unfold.

Frequently Asked Questions

What triggered the recent rise in Avidity Biosciences stocks?

The rise was triggered by the announcement of its acquisition by Novartis, offering a significant cash premium to shareholders.

How much are shareholders receiving for each share?

Shareholders will receive $72.00 per share at the closing of the acquisition.

What are other notable stocks moving in the market?

Stocks like Click Holdings and Treasure Global have experienced significant gains in pre-market trading.

Which companies faced losses in pre-market trading?

Companies such as Picard Medical and Genenta Science recorded notable losses during pre-market trading.

What should investors consider going forward?

Investors should consider reviewing their portfolios and staying informed about market trends, particularly in sectors affected by acquisitions and financial announcements.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

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