What In The World Is Going On With Enzo Biochem (ENZ) Stock?

Enzo Biochem Inc ENZ shares are trading higher by 67.23% after the company announced it will sell its clinical laboratory to Labcorp.

Enzo says this transaction between two leading global life sciences companies follows several steps initiated by Enzo in 2022 to advance the company's "focused return" initiative to maximize shareholder value.

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"Completion of the sale will position Enzo to assess and execute on further actions to increase shareholder value and advance our global leadership within the life sciences sector," said Hamid Erfanian, CEO of Enzo Biochem.

"We are very grateful to all our colleagues who have made Enzo Clinical Labs a trusted source for patient care. With proven expertise in clinical laboratory services and products, Labcorp is perfectly positioned to bring these operations to new levels of momentum and success."

According to data from Benzinga Pro, Enzo Biochem has a 52-week high of $3.19 and a 52-week low of $1.00.