CymaBay Therapeutics, ContextLogic, Snap And Other Big Stocks Moving Higher On Monday

U.S. stocks were mixed, with the Nasdaq Composite trading almost flat on Monday.

Shares of CymaBay Therapeutics, Inc. CBAY rose sharply in today’s pre-market trading.

Gilead Sciences agreed to acquire CymaBay Therapeutics for $32.50 per share in cash or a total equity value of $4.3 billion.

CymaBay Therapeutics shares jumped 24.5% to $31.99 on Monday.

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

• ContextLogic Inc. WISH climbed 40.2% to $6.31 after the company announced an agreement to sell substantially all of its operating assets and liabilities to Qoo10 for approximately $173 million in cash.
• Iris Energy Limited IREN gained 18% to $7.01.
• Viavi Solutions Inc. VIAV rose 14.1% to $10.16. Stifel analyst Ruben Roy upgraded Viavi Solutions from Hold to Buy and raised the price target from $10 to $13.
• The E.W. Scripps Company SSP surged 14% to $6.69.
• IGM Biosciences, Inc. IGMS gained 13.7% to $16.50. RBC Capital recently upgraded the stock from Sector Perform to Outperform and raised its price target from $9 to $21.
• Canaan Inc. CAN rose 13.2% to $1.8100.
• Cipher Mining Inc. CIFR rose 13.2% to $3.7942.
• V.F. Corporation VFC climbed 10.8% to $16.95. Reuters reported Engaged Capital gained support of VF Corp heirs in push for changes.
• CG Oncology, Inc. CGON gained 10.6% to $46.00.
• Riot Platforms, Inc. RIOT rose 9.8% to $15.98.
• B. Riley Financial, Inc. RILY gained 9.6% to $20.33.
• Bitdeer Technologies Group BTDR gained 9.2% to $8.62.
• Marathon Digital Holdings, Inc. MARA climbed 9% to $26.02.
• Diamondback Energy, Inc. FANG climbed 9% to $165.37 after company announced it entered into definitive merger agreement with Endeavor Energy Resources valued at $26 million. Also, the company increased its base dividend.
• Rocket Lab USA, Inc. RKLB rose 8.8% to $4.7250. Citigroup analyst Jason Gursky reinstated Rocket Lab USA with a Buy and announced a $6 price target.
• Arm Holdings plc ARM rose 7.8% to $124.19.
• Allogene Therapeutics, Inc. ALLO gained 7.7% to $4.72.
• O-I Glass, Inc. OI gained 7.4% to $16.67. The company recently reported better-than-expected Q4 financial results and issued guidance.
• Snap Inc. SNAP rose 7% to $11.88 after the company announced that it entered into various privately negotiated repurchase transactions.
• Teva Pharmaceutical Industries Limited TEVA gained 6.6% to $12.81 after Piper Sandler upgraded the stock from Neutral to Overweight and raised its price target from $12 to $19.

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