Niagen Bioscience (NASDAQ:NAGE) Shares Down 3.4% – Time to Sell?

Niagen Bioscience, Inc. (NASDAQ:NAGE) traded down 3.4% during trading on Wednesday . The stock traded as low as $6.01 and last traded at $6.03. 574,790 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 723,201 shares. The stock had previously closed at $6.24.

Analyst Ratings Changes

A number of analysts have recently commented on NAGE shares. Canaccord Genuity Group cut their price objective on shares of Niagen Bioscience from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Niagen Bioscience in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Niagen Bioscience presently has an average rating of “Moderate Buy” and a consensus target price of $14.28.

Niagen Bioscience Trading Down 3.4%

The stock has a market cap of $481.25 million, a P/E ratio of 25.13 and a beta of 2.35. The firm has a 50-day simple moving average of $6.49 and a two-hundred day simple moving average of $8.00.

Niagen Bioscience (NASDAQ:NAGE) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $33.99 million during the quarter, compared to the consensus estimate of $31.30 million. Niagen Bioscience had a net margin of 16.38% and a return on equity of 24.13%.

Insiders Place Their Bets

In other news, CFO Ozan Pamir acquired 4,465 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of $6.81 per share, with a total value of $30,406.65. Following the completion of the transaction, the chief financial officer directly owned 7,372 shares of the company’s stock, valued at $50,203.32. This trade represents a 153.59% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in Niagen Bioscience during the third quarter valued at approximately $37,522,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Niagen Bioscience in the 3rd quarter valued at $13,405,000. UBS Group AG bought a new position in shares of Niagen Bioscience in the 3rd quarter valued at $11,160,000. Qube Research & Technologies Ltd acquired a new position in shares of Niagen Bioscience during the 3rd quarter worth $8,175,000. Finally, Millennium Management LLC acquired a new position in shares of Niagen Bioscience during the 3rd quarter worth $7,224,000. 15.41% of the stock is owned by institutional investors.

Niagen Bioscience Company Profile

Niagen Bioscience, Inc is a global bioscience company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It is pioneering research on nicotinamide adenine dinucleotide (NAD+). The company’s patent portfolio includes Nicotinamide Riboside (NR) and other NAD+ precursors, which are commercialized as the flagship ingredient Niagen. It operates through the following segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services.