Shares of Verve Therapeutics (NASDAQ: VERV) have experienced a dramatic surge, increasing over 78% following reports of a potential acquisition by Eli Lilly.
Acquisition Speculation
According to reports from the Financial Times, Eli Lilly is in advanced negotiations to acquire Verve Therapeutics for approximately $1.3 billion. An announcement could occur as early as this week.
Impact on Stock
Following the news, VERV shares opened at $6.25 and quickly rose to $11.18, representing a 78.31% gain from Monday's close of $6.27. Trading volume reached 2.2 million shares, significantly exceeding average volumes.
Future Outlook
Given the close partnership between Eli Lilly and Verve and Lilly's substantial investments in Verve's technology, this deal could strengthen Lilly's position in the gene editing landscape, particularly in cardiovascular applications. Analysts predict potential growth to $24.33 per share, indicating significant upside.
As rumors of the acquisition generate market interest, shareholders of Verve Therapeutics may look forward to stable growth from this strategic move by Eli Lilly.
