Novo Holdings Buyout Sends Catalent Stock Surging

Options volume is running at 11 times the intraday average

Deputy Editor
Feb 5, 2024 at 11:07 AM
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The shares of pharmaceutical concern Catalent Inc (NYSE:CTLT) are surging today, after news that Novo Holdings, the controlling shareholder of Novo Nordisk (NVO), is purchasing the company for $11.5 billion. The merger will help Novo meet strong demand for weight-loss drug Wegovy, increasing its filling capacity starting in 2026. 

On the charts, CTLT has been chopping higher since mid-November. Today's jump still isn't enough to close its April bear gap, though, which occurred after a Danaher (DHR) takeover fell through. At last glance, CTLT was up 9.7% at $59.79, already sporting a 33.4% lead since the start of 2024. 

Catalent stock's typically quiet options pits are buzzing today, with 4.505 calls and 1,212 puts exchanged so far, which is 11 times the average daily options volume already. The February 60 call is the most popular by far, with new positions opening at the February 62.50 call. 

It's also worth noting that short interest represents 6.1% of the stock's available float. It would take nearly five days for shorts to cover their bets, at CTLT's average pace of trading. 


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