Karuna Therapeutics Jumps Following Takeover By Bristol Myers, Joins Rocket Lab USA, Altair Engineering And Other Big Stocks Moving Higher On Friday

U.S. stocks traded higher, with the Dow Jones index gaining around 50 points on Friday.

Shares of Karuna Therapeutics, Inc. KRTX rose sharply during Friday’s session following acquisition news.

Bristol Myers Squibb & Co BMY agreed to acquire Karuna Therapeutics for $330.00 per share in cash, for a total equity value of $14.0 billion, or $12.7 billion net of estimated cash acquired.

Karuna Therapeutics shares jumped 47% to $317.10 on Friday.

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

• Rocket Lab USA, Inc. RKLB shares rose 102% to $4.02 after the company announced a new $515 million contract with a U.S. government customer.
• Neumora Therapeutics, Inc. NMRA surged 20.2% to $16.81.
• Canaan Inc. CAN gained 20% to $3.10.
• Wheels Up Experience Inc. UP rose 19.3% to $3.2801.
• PureTech Health plc PRTC jumped 18% to $21.99. PureTech Health announced that its Founded Entity, Karuna Therapeutics, Inc Bristol Myers Squibb entered into a definitive merger agreement.
• Bitdeer Technologies Group BTDR gained 16.6% to $9.85.
• MoneyLion Inc. ML surged 14.6% to $64.42.
• Tourmaline Bio, Inc. TRML rose 14.3% to $23.01.
• ALX Oncology Holdings Inc. ALXO jumped 13.6% to $14.81.
• Allogene Therapeutics, Inc. ALLO gained 13.5% to $3.1333.
• ZIM Integrated Shipping Services Ltd. ZIM surged 11.5% to $11.71.
• Jin Medical International Ltd. ZJYL gained 11.5% to $78.62.
• ANSYS, Inc. ANSS gained 10.2% to $334.05.
• Compass, Inc. COMP gained 8.7% to $3.50.
• Altair Engineering Inc. ALTR surged 8.3% to $80.95 after JP Morgan initiated coverage on the stock with an Overweight rating and $86 price target.
• Apellis Pharmaceuticals, Inc. APLS rose 8.3% to $58.93.
• Opendoor Technologies Inc. OPEN surged 8.3% to $4.5500.
• Marathon Digital Holdings, Inc. MARA rose 6.6% to $26.44 on continued upward momentum. The stock has gained more than 40% over the past five days. Marathon Digital announced a purchase agreement with Generate Capital, PBC to acquire two Bitcoin mining sites for $178.6 million on Tuesday.

Now Read This: 3 Minutes To Boost Your Earnings: 3 High-Yielding Dividend Stocks In Defensive Sector From Wall Street's Most Accurate Analysts