Karuna Therapeutics Jumps Following Takeover By Bristol Myers, Joins Rocket Lab USA, Altair Engineering And Other Big Stocks Moving Higher On Friday

Author: Avi Kapoor | December 22, 2023 12:20pm

U.S. stocks traded higher, with the Dow Jones index gaining around 50 points on Friday.

Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) rose sharply during Friday’s session following acquisition news.

Bristol Myers Squibb & Co (NYSE:BMY) agreed to acquire Karuna Therapeutics for $330.00 per share in cash, for a total equity value of $14.0 billion, or $12.7 billion net of estimated cash acquired.

Karuna Therapeutics shares jumped 47% to $317.10 on Friday.

Here are some other big stocks recording gains in today’s session.

• Rocket Lab USA, Inc. (NASDAQ:RKLB) shares rose 102% to $4.02 after the company announced a new $515 million contract with a U.S. government customer.
• Neumora Therapeutics, Inc. (NASDAQ:NMRA) surged 20.2% to $16.81.
• Canaan Inc. (NASDAQ:CAN) gained 20% to $3.10.
• Wheels Up Experience Inc. (NYSE:UP) rose 19.3% to $3.2801.
• PureTech Health plc (NASDAQ:PRTC) jumped 18% to $21.99. PureTech Health announced that its Founded Entity, Karuna Therapeutics, Inc Bristol Myers Squibb entered into a definitive merger agreement.
• Bitdeer Technologies Group (NASDAQ:BTDR) gained 16.6% to $9.85.
• MoneyLion Inc. (NYSE:ML) surged 14.6% to $64.42.
• Tourmaline Bio, Inc. (NASDAQ:TRML) rose 14.3% to $23.01.
• ALX Oncology Holdings Inc. (NASDAQ:ALXO) jumped 13.6% to $14.81.
• Allogene Therapeutics, Inc. (NASDAQ:ALLO) gained 13.5% to $3.1333.
• ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) surged 11.5% to $11.71.
• Jin Medical International Ltd. (NASDAQ:ZJYL) gained 11.5% to $78.62.
• ANSYS, Inc. (NASDAQ:ANSS) gained 10.2% to $334.05.
• Compass, Inc. (NYSE:COMP) gained 8.7% to $3.50.
• Altair Engineering Inc. (NASDAQ:ALTR) surged 8.3% to $80.95 after JP Morgan initiated coverage on the stock with an Overweight rating and $86 price target.
• Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) rose 8.3% to $58.93.
• Opendoor Technologies Inc. (NASDAQ:OPEN) surged 8.3% to $4.5500.
• Marathon Digital Holdings, Inc. (NASDAQ:MARA) rose 6.6% to $26.44 on continued upward momentum. The stock has gained more than 40% over the past five days. Marathon Digital announced a purchase agreement with Generate Capital, PBC to acquire two Bitcoin mining sites for $178.6 million on Tuesday.

 

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Posted In: ALLO ALTR ALXO ANSS APLS BMY BTDR CAN COMP KRTX MARA ML NMRA OPEN PRTC RKLB TRML UP ZIM ZJYL