Niagen Bioscience, Inc. $NAGE Holdings Boosted by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Niagen Bioscience stake by 45.4% in the first quarter, owning 1.33 million shares valued at approximately $5.86 million. Several other institutional investors also raised their positions, though institutions collectively own just 15.41% of NAGE.
• Niagen reported quarterly earnings of $0.01 per share, in line with estimates, while revenue of $29.78 million was slightly below the $29.95 million consensus forecast. The stock opened at $2.96, near its one-year low of $2.87 and well below its one-year high of $11.29.
• Analyst sentiment remains generally positive, with an average rating of “Buy” and a consensus price target of $10.33, despite some hold or downgrade opinions. Analysts project full-year earnings of $0.21 per share.

Renaissance Technologies LLC raised its stake in Niagen Bioscience, Inc. (NASDAQ:NAGE - Free Report) by 45.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,328,843 shares of the company's stock after acquiring an additional 414,725 shares during the period. Renaissance Technologies LLC owned 1.67% of Niagen Bioscience worth $5,860,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Teton Advisors LLC raised its position in shares of Niagen Bioscience by 20.0% during the 1st quarter. Teton Advisors LLC now owns 30,000 shares of the company's stock worth $132,000 after purchasing an additional 5,000 shares during the period. Gabelli Funds LLC boosted its position in Niagen Bioscience by 5.2% during the 1st quarter. Gabelli Funds LLC now owns 214,685 shares of the company's stock valued at $947,000 after purchasing an additional 10,685 shares during the period. Gamco Investors INC. ET AL boosted its position in Niagen Bioscience by 2.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 165,000 shares of the company's stock valued at $728,000 after purchasing an additional 4,000 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Niagen Bioscience by 47.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,378,437 shares of the company's stock worth $10,489,000 after buying an additional 761,685 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Niagen Bioscience by 155.6% during the 1st quarter. Sei Investments Co. now owns 971,574 shares of the company's stock worth $4,285,000 after buying an additional 591,495 shares during the last quarter. 15.41% of the stock is owned by institutional investors.

Niagen Bioscience Stock Performance

Shares of NAGE opened at $2.96 on Thursday. Niagen Bioscience, Inc. has a one year low of $2.87 and a one year high of $11.29. The stock's fifty day moving average is $3.41 and its 200-day moving average is $4.34. The firm has a market capitalization of $235.73 million, a price-to-earnings ratio of 16.45 and a beta of 2.09.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $29.78 million during the quarter, compared to the consensus estimate of $29.95 million. Niagen Bioscience had a net margin of 12.39% and a return on equity of 18.31%. Analysts forecast that Niagen Bioscience, Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NAGE has been the topic of a number of recent research reports. Wall Street Zen cut Niagen Bioscience from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Roth Capital restated a "buy" rating on shares of Niagen Bioscience in a research report on Wednesday. HC Wainwright reiterated a "buy" rating on shares of Niagen Bioscience in a research report on Wednesday, July 1st. Freedom Capital raised shares of Niagen Bioscience to a "strong-buy" rating in a research note on Monday, July 6th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Niagen Bioscience in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $10.33.

About Niagen Bioscience

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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