TDCX Receives Preliminary Non-binding Proposal Letter, Joins Pure Storage, Dyne Therapeutics And Other Big Stocks Moving Higher On Wednesday

U.S. stocks traded lower, with the Nasdaq Composite falling around 150 points on Wednesday.

Shares of TDCX Inc. TDCX rose sharply during Wednesday’s session after it disclosed receiving a preliminary non-binding acquisition offer.

The company got an acquisition offer from Laurent Junique, its Founder, Executive Chairman, Director, and CEO, for a purchase price of $6.60/share or ADS in cash. The company has created a special committee of the Board, comprised solely of independent and disinterested directors, to consider the proposal letter dated Jan. 2, 2024.

TDCX shares surged 28% to $6.18 on Wednesday.

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

• Dyne Therapeutics, Inc. DYN shares jumped 16.2% to $15.17. Dyne Therapeutics released initial clinical data from its ACHIEVE trial of DYNE-101 in patients with myotonic dystrophy type 1 (DM1) and its DELIVER trial of DYNE-251 in patients with Duchenne muscular dystrophy (DMD) who are amenable to exon 51 skipping.
• Voyager Therapeutics, Inc. VYGR gained 16.1% to $10.45.
• Gaotu Techedu Inc. GOTU climbed 15.1% to $3.7601.
• Arrowhead Pharmaceuticals, Inc. ARWR surged 7% to $33.17. Arrowhead Pharmaceuticals reported pricing of offering of 15.79 million shares at $28.50 per share.
• NaaS Technology Inc. NAAS rose 6.9% to $1.54.
• Anavex Life Sciences Corp. AVXL rose 6.5% to $6.44. HC Wainwright & Co. analyst Raghuram Selvaraju maintained Anavex Life Sciences with a Buy and lowered the price target from $54 to $40.
• Collegium Pharmaceutical, Inc. COLL rose 6% to $33.11.
• Jumia Technologies AG JMIA gained 5.4% to $3.5412. Morgan Stanley analyst Luke Holbrook upgraded Jumia Technologies from Underweight to Equal-Weight and raised the price target from $3 to $3.6.
• Arrowhead Pharmaceuticals, Inc. ARWR climbed 5.3% to $32.66. Arrowhead Pharmaceuticals reported pricing of offering of 15.79 million shares at $28.50 per share.
• Pure Storage, Inc. PSTG rose 5.1% to $36.58 after it was announced the company will join the S&P MidCap 400.
• Tourmaline Bio, Inc. TRML gained 5% to $27.83.
• TAL Education Group TAL rose 4.9% to $12.37.
• Suncor Energy Inc. SU gained 4.2% to $33.45.

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