Market Momentum: Unpacking the Day's Key Stock Shifts
Avidity Biosciences: A Strategic Acquisition Drives Share Price Upheaval
Shares of Avidity Biosciences Inc. (NASDAQ: RNA) witnessed a dramatic increase in pre-market activity, jumping by approximately 42%. This surge was triggered by the company's agreement to be acquired by pharmaceutical giant Novartis AG (NYSE: NVS). Under the terms of the deal, Avidity shareholders are set to receive $72.00 in cash for each share, representing a premium of about 46% compared to the company's closing price on the preceding trading day, October 24.
Leading the Charge: Companies Experiencing Notable Pre-Market Gains
Beyond Avidity Biosciences, several other companies demonstrated impressive growth during pre-market trading. Click Holdings Limited (NASDAQ: CLIK) saw a remarkable 173% increase, reaching $16.83, following the release of its fiscal year 2025 financial results. Treasure Global Inc. (NASDAQ: TGL) also posted a significant gain of 52.4%, trading at $1.10, after announcing an inducement grant in compliance with Nasdaq Listing Rule 5635(c)(4). Argentine financial institutions were also on the rise, with Banco BBVA Argentina SA (NYSE: BBAR) climbing 31.3% to $13.27, Grupo Financiero Galicia SA (NASDAQ: GGAL) up 29.3% to $45.79, and Grupo Supervielle SA – ADR (NYSE: SUPV) appreciating by 29.1% to $8.69. Banco Macro SA ADR Class B (NYSE: BMA) also saw a 26.3% rise to $72.60. Strive Inc. (NASDAQ: ASST) gained 22.8% to $1.35 after announcing its strategic shift towards becoming a Bitcoin-focused asset manager, following its merger with Asset Entities Inc. Dyne Therapeutics Inc. (NASDAQ: DYN) moved up 21.3% to $20.77, and Vista Energy SAB de CV – ADR (NYSE: VIST) increased by 18.1% to $47.27.
Facing Downward Trends: Stocks Experiencing Pre-Market Declines
Conversely, some companies experienced significant declines in early trading. Picard Medical, Inc. (NYSE: PMI) plunged 65.3% to $4.61. Genenta Science SPA (NASDAQ: GNTA) fell 32.3% to $4.20 after announcing the pricing of a $15.0 million registered direct offering of American Depositary Shares. Wellgistics Health Inc. (NASDAQ: WGRX) saw a 31.5% drop to $0.79, despite a previous 185% surge on news of a letter of intent with Datavault AI to integrate blockchain technology. Tianci International Inc. (NASDAQ: CIIT) shares dipped 29% to $0.70 after a 40% gain on Friday. 374Water Inc. (NASDAQ: SCWO) decreased by 22.2% to $0.36 after announcing a preliminary proxy filing for a discretionary reverse stock split. MaxsMaking Inc. (NASDAQ: MAMK) was down 17.7% to $4.35, following a 77% jump on Friday. United States Antimony Corp (NYSE: UAMY) recorded a 15.6% fall to $10.12. Nanobiotix SA – ADR (NASDAQ: NBTX) declined by 13.1% to $16.68 after providing updates on its JNJ-1900 (NBTXR3) clinical program. Lastly, Critical Metals Corp (NASDAQ: CRML) dropped 8.2% to $13.80, despite a 10% gain on Friday, and American Resources Corp (NASDAQ: AREC) fell 7.8% to $3.57, also after a previous 7% gain.