What's Going On With Aditxt Stock?

ADiTx Therapeutics -4.44%

ADiTx Therapeutics

ADTX

3.01

-4.44%

Aditxt, Inc. (NASDAQ:ADTX) shares are trading higher Friday, and the stock is up more than 100% over the past month. Here's a look at what's going on.

What To Know:

Earlier in December, Aditxt announced that it will acquire Evofem Biosciences, Inc., a women's health company, with a combination of common and preferred stock and the assumption of certain indebtedness, for a total consideration of approximately $100 million.

"We are excited about the opportunity to accelerate our growth trajectory, as a subsidiary of Aditxt, into a multi-product women's health franchise," said Evofem's CEO, Saundra Pelletier.

Aditxt's stock is climbing on heavy trading volume and was halted for volatility Friday. According to data from Benzinga Pro, more than 21 million shares have already been traded in the session, compared to the stock's 100-day average volume of less than 860,000 shares.

Aditxt has a float of less than 441,000 shares and outsized short-interest which may be contributing to the stock's dramatic gains. 19.11% of available Aditxt shares are being sold short.

Related News: What's Going On With Jin Medical International Stock?

ADTX Price Action: According to Benzinga Pro, Aditxt shares are up 37% at $6.60 at the time of publication.

Image: Bruno from Pixabay

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