Niagen Bioscience (NASDAQ:NAGE) Cut to Buy at Wall Street Zen

Key Points

• Niagen Bioscience has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, indicating a more cautious outlook from analysts.
• Despite the downgrade, analysts from Canaccord Genuity and Roth Capital have set price targets of **$16.00** and **$23.00** respectively, signaling potential growth for the stock.
• The company recently saw a **3.3% decline** in its stock price, opening at **$9.04** while having a market capitalization of approximately **$712 million**.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

A number of other equities research analysts have also recently issued reports on the company. Roth Capital reaffirmed a "buy" rating and set a $23.00 target price (up previously from $10.00) on shares of Niagen Bioscience in a research report on Friday, June 6th. Canaccord Genuity Group raised their target price on Niagen Bioscience from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Niagen Bioscience has an average rating of "Buy" and a consensus target price of $13.22.

Niagen Bioscience Trading Down 0.2%

Shares of NASDAQ NAGE traded down $0.02 during midday trading on Friday, reaching $9.14. 757,583 shares of the stock were exchanged, compared to its average volume of 917,000. The company has a market capitalization of $719.96 million, a P/E ratio of 53.76 and a beta of 2.12. Niagen Bioscience has a 52-week low of $2.62 and a 52-week high of $14.69. The stock has a 50 day moving average price of $11.84 and a 200-day moving average price of $8.25.

Institutional Investors Weigh In On Niagen Bioscience

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in Niagen Bioscience by 4.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 57,304 shares of the company's stock valued at $304,000 after purchasing an additional 2,196 shares in the last quarter. Teton Advisors Inc. increased its position in shares of Niagen Bioscience by 25.0% during the fourth quarter. Teton Advisors Inc. now owns 25,000 shares of the company's stock worth $133,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Niagen Bioscience by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,154,778 shares of the company's stock valued at $6,128,000 after acquiring an additional 5,186 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Niagen Bioscience by 42.1% during the 4th quarter. Wells Fargo & Company MN now owns 23,137 shares of the company's stock worth $123,000 after acquiring an additional 6,856 shares in the last quarter. Finally, State of Wyoming purchased a new position in Niagen Bioscience in the 4th quarter worth approximately $39,000. 15.41% of the stock is currently owned by hedge funds and other 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.