Biotech Stock Surging on Billion-Dollar Buyout

Biotech stock Verve Therapeutics Inc (NASDAQ:VERV) is up 75.3% to trade at $10.99 at last check amid news that peer Eli Lilly (LLY) will buy the company for $10.50 per share, or roughly $1.3 billion. The pair have already been partnering on several drugs, with the move allowing Eli Lilly to push further into gene editing. VERV is now trading at its highest level since April 2024, and sports an 11.2% year-to-date lead. The shares have been using the $6 region and 100-day moving average as support in recent w ...