Freshpet ( NASDAQ: FRPT ) jumped on Monday after Barron's reported that the company has hired bankers to explore a potential sale of itself.
The development came shortly after Jana Partners disclosed that it holds a 10% stake in the online pet supply retailer and said it wanted to engage with management.
Shares of Freshpet ( FRPT ) were up 8.17% to $54.18. The stock traded as high as $55.63 earlier in the session.
FRPT is up more than 30% since Jana Partners took its position and the stock has moved back over its 100-day moving average.
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Freshpet gains after reportedly hiring bankers to explore sale