Arrowstreet Capital Limited Partnership Buys 761,685 Shares of Niagen Bioscience, Inc. $NAGE

Key Points

• Arrowstreet Capital increased its Niagen Bioscience stake by 47.1%, buying 761,685 additional shares to hold 2.38 million shares, or about 2.99% of NAGE. Institutional investors collectively own 15.41% of the company.
• Niagen Bioscience reported quarterly EPS of $0.07, beating estimates by $0.01, on revenue of $31.47 million. Analysts project full-year EPS of $0.21.
• NAGE opened at $3.40, well below its 12-month high of $11.29. Despite mixed analyst actions, the stock carries a consensus “Buy” rating with an average price target of $10.50.

Arrowstreet Capital Limited Partnership lifted its position in Niagen Bioscience, Inc. (NASDAQ:NAGE - Free Report) by 47.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,378,437 shares of the company's stock after buying an additional 761,685 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.99% of Niagen Bioscience worth $10,489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NAGE. JPMorgan Chase & Co. bought a new stake in Niagen Bioscience during the third quarter valued at about $3,678,000. SteelPeak Wealth LLC bought a new position in Niagen Bioscience in the first quarter worth about $14,875,000. OP Asset Management Ltd bought a new position in Niagen Bioscience in the first quarter worth about $1,475,000. UBS Group AG lifted its position in shares of Niagen Bioscience by 18.0% during the fourth quarter. UBS Group AG now owns 1,411,742 shares of the company's stock valued at $8,979,000 after buying an additional 215,645 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Niagen Bioscience during the third quarter valued at about $96,000. 15.41% of the stock is owned by institutional investors.

Niagen Bioscience Price Performance

NAGE stock opened at $3.40 on Friday. The firm's fifty day simple moving average is $3.44 and its 200-day simple moving average is $4.42. The company has a market capitalization of $270.78 million, a P/E ratio of 16.19 and a beta of 2.09. Niagen Bioscience, Inc. has a 12 month low of $3.12 and a 12 month high of $11.29.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The business had revenue of $31.47 million during the quarter. Niagen Bioscience had a return on equity of 22.68% and a net margin of 14.29%. As a group, sell-side analysts forecast that Niagen Bioscience, Inc. will post 0.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NAGE has been the topic of a number of analyst reports. Canaccord Genuity Group cut their price objective on shares of Niagen Bioscience from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, May 5th. Wall Street Zen cut shares of Niagen Bioscience from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Freedom Capital upgraded shares of Niagen Bioscience to a "strong-buy" rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Niagen Bioscience in a report on Friday, July 17th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Niagen Bioscience in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $10.50.

Niagen Bioscience 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.

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