SteelPeak Wealth LLC Makes New Investment in Niagen Bioscience, Inc. $NAGE

Key Points

• SteelPeak Wealth LLC disclosed a new position in Niagen Bioscience, buying 3,373,000 shares worth about $14.9 million. The stake represents roughly 4.24% of the company.
• Niagen Bioscience shares were down 2.0%, opening at $3.40 and trading near the low end of their 52-week range. The stock has a market cap of about $270.8 million.
• The company recently posted quarterly EPS of $0.07, edging past analyst expectations, while Wall Street’s overall view remains “Buy” with a consensus price target of $10.50.

SteelPeak Wealth LLC acquired a new stake in Niagen Bioscience, Inc. (NASDAQ:NAGE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,373,000 shares of the company's stock, valued at approximately $14,875,000. SteelPeak Wealth LLC owned about 4.24% of Niagen Bioscience as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NAGE. JPMorgan Chase & Co. bought a new stake in Niagen Bioscience during the 3rd quarter valued at $3,678,000. OP Asset Management Ltd purchased a new stake in Niagen Bioscience during the 1st quarter valued at $1,475,000. UBS Group AG grew its holdings in Niagen Bioscience by 18.0% in the 4th quarter. UBS Group AG now owns 1,411,742 shares of the company's stock worth $8,979,000 after acquiring an additional 215,645 shares during the last quarter. Andina Capital Management LLC bought a new stake in Niagen Bioscience in the 4th quarter worth $82,000. Finally, Gabelli Funds LLC increased its position in shares of Niagen Bioscience by 8.8% in the fourth quarter. Gabelli Funds LLC now owns 204,000 shares of the company's stock valued at $1,297,000 after acquiring an additional 16,500 shares during the period. Hedge funds and other institutional investors own 15.41% of the company's stock.

Niagen Bioscience Trading Down 2.0%

NASDAQ:NAGE opened at $3.40 on Friday. The company has a 50-day moving average price of $3.55 and a 200-day moving average price of $4.65. Niagen Bioscience, Inc. has a 12 month low of $3.17 and a 12 month high of $11.58. The stock has a market cap of $270.78 million, a price-to-earnings ratio of 16.19 and a beta of 2.09.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) last announced its earnings results 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. Niagen Bioscience had a net margin of 14.29% and a return on equity of 22.68%. The firm had revenue of $31.47 million for the quarter. Equities analysts forecast that Niagen Bioscience, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NAGE shares. Wall Street Zen lowered shares of Niagen Bioscience from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. HC Wainwright restated a "buy" rating on shares of Niagen Bioscience in a report on Wednesday, July 1st. Freedom Capital raised Niagen Bioscience to a "strong-buy" rating in a research report on Monday, July 6th. Canaccord Genuity Group dropped their price objective on Niagen Bioscience from $13.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Niagen Bioscience in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus 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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