Avidity Biosciences eyes record high after Novartis' $12 bln deal to buy co

Avidity Biosciences

27/10/2025 10:09

** Shares of Avidity Biosciences RNA.O jump 43.6% to $70.60 premarket

** Stock set to open at a record high, if gains hold

** Swiss drugmaker Novartis NOVN.S to buy U.S. biotech firm for about $12 billion

** Avidity stockholders will receive $72 per share in cash, representing a premium of 46% to stock's closing price on Friday

** Prior to closing deal, Avidity will separate its early-stage precision cardiology programs into a new company, which is expected to be publicly traded

** All 17 brokerages rate RNA stock "buy" or higher; median price at $65, as per LSEG data

** RNA up 69% YTD vs NASDAQ Biotechnology index's .NBI 20.3% gain

 (Reporting by Utkarsh Tushar Hathi in Bengaluru)

 ((utkarshtushar.hathi@thomsonreuters.com))