Why Dyne Therapeutics Stock Crushed the Market on Monday

Dyne Therapeutics (NASDAQ: DYN) had a Monday neither it nor its investors will ever forget. This wasn't of its own making, however, as a premium-priced buyout of a peer was attracting serious interest in its own equity. This propelled the stock to a more than 41% gain on the day, mirroring the trajectory of that soon-to-be-acquired fellow biotech. That peer is Avidity Biosciences, which has agreed to be purchased by pharmaceutical giant Novartis in a deal that values the company at $12 billion. Novartis is paying a premium of 42% for Avidity's stock, hence the bullishness in Dyne that pushed its share price nearly as high. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool