Mural Oncology (NASDAQ:MURA) stock is rising higher on Friday after the company was separated from Alkermes (NASDAQ:ALKS).
This separation went into effect on Nov. 15 and sees Mural Oncology now acting as its own independent company listed separately from Alkermes. That also saw shares of MURA stock begin trading publicly on Thursday.
Richard Pops, CEO of Alkermes, said the following about the separation.
The separation of our oncology business was an important element of our strategy to transform Alkermes into a pure-play neuroscience company with the potential to generate strong profitability and cash flow.
MURA Stock Movement After Going Public
When Mural Oncology went public yesterday, it wasn’t with the best debut. The company finished out normal trading hours on Thursday down 91.8% as some 1.7 million shares changed hands.
On the flip side of that, shares of MURA stock are up 58.7% during pre-market trading on Friday. That comes with more than 535,000 shares of the stock being traded.
Considering all of this volatility, investors will want to be careful about taking a stake in MURA stock right now. It might be best to let the shares settle first before weighing an investment in the oncology company.
Investors that are looking for more of the most recent stock market news on Friday are in the right place!
We’re offering insight into all of the latest stock market news for today. Among that is why shares of Safe & Green Development (NASDAQ:SGD) stock are up today, the biggest pre-market stock movers this morning and more. You can find all of this news at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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