Why Cerevel Therapeutics Shares Are Trading Higher By Around 15%; Here Are 20 Stocks Moving Premarket

Shares of Cerevel Therapeutics Holdings, Inc. CERE jumped in pre-market trading after AbbVie Inc. ABBV announced it will acquire the company for a total equity value of approximately $8.7 billion.

AbbVie will acquire all outstanding shares of Cerevel for $45 per share in cash, with the transaction anticipated to close in the middle of 2024.

Cerevel Therapeutics shares rose 14.7% to $42.35 in pre-market trading.

Here are some other stocks moving in pre-market trading.

Gainers

• Hempacco Co., Inc. HPCO shares gained 75.3% to $0.59 in pre-market trading after the company announced it entered into an exclusive Master Distribution Agreement with CBDAY Global. Under the agreement, CBDAY will exclusively sell Hempacco's line of hemp and CBD products in India and Thailand.
• MicroAlgo Inc. MLGO shares rose 43.3% to $13.72 in pre-market trading. MicroAlgo shares jumped over 295% on Wednesday after the company announced it plans to establish a postgraduate training practice base.
• Oblong, Inc. OBLG rose 32.5% to $0.1978 in pre-market trading after gaining over 3% on Wednesday.
• Altisource Asset Management CorporationAAMC gained 31.5% to $4.43 in pre-market trading. Altisource Asset Management reported key ruling in Blackrock and PIMCO litigation.
• TC Biopharm (Holdings) Plc TCBP shares rose 19.6% to $0.3947 in pre-market trading after falling 7% on Wednesday.
• AerSale Corporation ASLE shares surged 16.4% to $16.58 in pre-market trading. AerSale's "AerAware™" Enhanced Flight Vision System earned the FAA approval for Boeing B737NG product line.
• Barnes & Noble Education, Inc. BNED shares rose 13.3% to $1.19 in pre-market trading following upbeat quarterly earnings.
• Nogin, Inc. NOGN gained 10.3% to $0.1999 in pre-market trading after the company entered Chapter 11 bankruptcy proceedings in combination with a stalking horse bid and Debtor in Possession financing provided by B. Riley Financial, Inc.
• Braze, Inc. BRZE shares climbed 9.7% to $61.56 in pre-market trading after the company reported better-than-expected third-quarter financial results and issued FY24 guidance above estimates.

Losers

• ZyVersa Therapeutics, Inc. ZVSA dipped 44.4% to $1.19 in pre-market trading after the company priced its $5 million public offering.
• Red Cat Holdings, Inc. RCAT shares fell 35.2% to $0.4924 in pre-market trading. Red Cat priced public offering of 16 million common shares at $0.50 per share for gross proceeds of $8 million.
• Troika Media Group, Inc. TRKA shares fell 29.3% to $1.35 in pre-market trading after the company reported a strategic Chapter 11 filing and sale to Blue Torch Finance LLC.
• Wave Life Sciences Ltd. WVE shares fell 21.7% to $5.38 in pre-market trading after the company announced a proposed public offering of ordinary shares and pre-funded warrants.
• Sprinklr, Inc. CXM shares fell 20.4% to $13.30 in pre-market trading following weak earnings for the third quarter.
• BAIYU Holdings, Inc. BYU shares fell 18.2% to $1.48 in pre-market trading.
• Greenbrook TMS Inc. GBNH fell 16.6% to $0.2682 in pre-market trading. Greenbrook TMS shares gained around 40% on Wednesday after the company announced it raised $2.5 million in debt financing.
• Nikola Corporation NKLA fell 15.5% to $0.8301 in pre-market trading after the company announced proposed offerings of common stock and convertible senior notes.
• Bit Brother Limited BETS fell 14.8% to $0.0298 in pre-market trading. Bit Brother recently announced the pricing of a $12 million registered direct offering.
• Chewy, Inc. CHWY fell 11.1% to $17.20 in pre-market after the company reported mixed third-quarter financial results and cut FY23 net sales guidance.

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