Guardion Health Sciences Inc (NASDAQ:GHSI) is moving higher on Tuesday, but well off session highs. Early in the day the stock opened and traded strong but has not been able to hold its gains.
As of 11:08, GHSI is gaining 11% to trade at $1.7402. More than 14.03 million shares have traded hands, well above its 30-day average volume of 1.83 million shares. The stock has moved in a wide range of $1.6700 – 2.1800.
GHSI Issues News
Guardion Health Sciences to Acquire Activ Nutritional, LLC and Its Well-Known Viactiv® Brand of Products from Adare Pharmaceuticals, Inc.
- Eloxx Pharmaceuticals, Inc. a corporation organized under the laws of the State of Delaware (the “announced the first acquisition being effected under its recently-appointed CEO’s new growth strategy to more widely compete in the clinical nutrition market.
- The Company has entered into an Equity Purchase Agreement with Adare Pharmaceuticals, Inc. (“Adare”) to acquire all of the equity of Activ Nutritional, LLC for a cash payment of $26 million, subject to certain adjustments.
- The transaction is subject to several customary closing conditions and is expected to close by June 30, 2021.
Bret Scholtes, Guardion’s CEO commented, “The Activ Nutritional acquisition satisfies a number of our current objectives as we continue efforts to build our position within the clinical nutrition market.
|SHARES OUTSTANDING||24.43 M|
|SHARE FLOAT (%)||23.60 M (96.62%)|
|% HELD BY INSTITUTIONS||7.33|
Recent Stock Performance
|+/- EMA(20)||1.70 (+2.35%)|
|+/- SMA(50)||2.06 (-15.53%)|
|+/- SMA(200)||2.35 (-25.96%)|