Premarket Movers｜Chinese Property Shares Rise with Fangdd up 17%; WK Kellogg Soars 49%; Nurix Therapeutics up 36%; ProKidney Surges 12%

Chinese property shares rose in premarket trading on Thursday. Fangdd Network Group rose 17%; KE Holdings Inc. rose 5%.

A gauge of Chinese property shares jumped the most in nearly nine months, fueled by speculation a high-level meeting will be held next week to help revive the struggling sector.

The rally followed unverified social media reports of a possible high-level meeting that would be reminiscent of the Central Urban Work Conference held in 2015, which sought to propel urban planning and infrastructure. That event was the first of its kind in decades and was attended by President Xi Jinping, former Premier Li Keqiang and all the members of the Politburo’s standing committee.

The speculation relates to the possible resumption in the development of shanty-town areas, which triggered the purchasing of property stocks, said Shujin Chen, head of China financial and property research at Jefferies Hong Kong Ltd.

WK Kellogg Co. shares soared 49% in premarket trading on Thursday.

The Italian candy maker behind Ferrero Rocher and Nutella is nearing a deal to buy cereal maker WK Kellogg, a source told Reuters, an acquisition that would combine two of the world's best known consumer food makers.

Shares of WK Kellogg — the company behind Froot Loops and Frosted Flakes — surged after the Wall Street Journal on Wednesday reported that Ferrero could finalize the roughly $3 billion deal as soon as this week. WK Kellogg currently has a market value of about $1.5 billion.

ProKidney Corp. stock rose 12% in premarket trading on Thursday after soaring 615% in the previous two trading days.

The cell therapy developer announced positive topline results from a mid-stage trial for its lead candidate, rilparencel, in patients with chronic kidney disease and diabetes.

Citing its Phase 2 REGEN-007 trial, the Winston-Salem, North Carolina-based biotech said that rilparencel led to a statistically significant and clinically meaningful decline in the slope of the estimated glomerular filtration rate (eGFR), which related to the study’s primary endpoint.

Nurix Therapeutics shares soared 36% in premarket trading on Thursday.

Nurix Therapeutics reported better-than-expected financial results for its fiscal second quarter ended May 31, 2025, driven by significant milestone payments from its strategic collaborations.

The clinical-stage biopharmaceutical company posted a quarterly net loss of $43.5 million, or -$0.52 per share, beating analyst expectations of -$0.74 per share. Revenue surged to $44.1 million, substantially exceeding the $17.5 million analysts had projected and up from $12.1 million in the same quarter last year.