Seres Therapeutics (NASDAQ:MCRB) rose 7% on a report that Nestlé (OTCPK:NSRGY) made an acquisition offer for the company that was rebuffed.

Nestlé (OTCPK:NSRGY) offered between $6 and $6.50 a share or an about $750 million for Seres (MCRB), according to a Betaville “rare” alert on Friday, traders told Seeking Alpha.

Even at a $6 a share, an offer would represent 567% premium to Seres (MCRB) closing price on Thursday.

The report comes after Seres (MCRB) announced last month that Nestlé Health Science, a unit of consumer care giant Nestlé (OTCPK:NSRGY), agreed to purchase its oral microbiome therapy Vowst for $175 million.

Seres (MCRB) has short interest of 11%.