Niagen Bioscience, Inc. (NASDAQ:NAGE) Receives Average Rating of "Buy" from Brokerages

Niagen Bioscience, Inc. (NASDAQ:NAGE - Get Free Report) has received an average recommendation of "Buy" from the five research firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $13.22.

NAGE has been the topic of several research reports. Wall Street Zen upgraded shares of Niagen Bioscience from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 22nd. Roth Capital reiterated a "buy" rating and issued a $23.00 price target (up previously from $10.00) on shares of Niagen Bioscience in a report on Friday, June 6th. Finally, Canaccord Genuity Group raised their price objective on shares of Niagen Bioscience from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th.

Niagen Bioscience Price Performance

NASDAQ:NAGE traded down $1.15 during midday trading on Monday, hitting $10.35. The company's stock had a trading volume of 1,501,799 shares, compared to its average volume of 990,180. Niagen Bioscience has a fifty-two week low of $2.53 and a fifty-two week high of $14.69. The firm's 50 day moving average is $12.01 and its 200-day moving average is $8.09. The firm has a market cap of $815.27 million, a P/E ratio of 60.88 and a beta of 2.14.

Institutional Investors Weigh In On Niagen Bioscience

A number of hedge funds and other institutional investors have recently made changes to their positions in NAGE. Geode Capital Management LLC lifted its position in shares of Niagen Bioscience by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,154,778 shares of the company's stock valued at $6,128,000 after buying an additional 5,186 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Niagen Bioscience by 1,785.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,011,290 shares of the company's stock valued at $5,365,000 after purchasing an additional 957,665 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Niagen Bioscience by 68.0% in the 4th quarter. Renaissance Technologies LLC now owns 712,788 shares of the company's stock valued at $3,781,000 after purchasing an additional 288,588 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Niagen Bioscience by 288.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 662,956 shares of the company's stock valued at $3,517,000 after purchasing an additional 492,148 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Niagen Bioscience by 189.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 506,186 shares of the company's stock valued at $2,685,000 after purchasing an additional 331,014 shares in the last quarter. Institutional investors and hedge funds own 15.41% of the company's stock.

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.