Niagen Bioscience (NASDAQ:NAGE) Shares Down 4% - Here's What Happened

Niagen Bioscience, Inc. (NASDAQ:NAGE - Get Free Report)'s share price fell 4% during mid-day trading on Thursday . The company traded as low as $11.03 and last traded at $11.04. 229,801 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 884,236 shares. The stock had previously closed at $11.50.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Roth Capital restated a "buy" rating and issued a $23.00 price objective (up previously from $10.00) on shares of Niagen Bioscience in a report on Friday, June 6th. Wall Street Zen raised shares of Niagen Bioscience from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 22nd. Finally, Canaccord Genuity Group upped their price objective on shares of Niagen Bioscience from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Niagen Bioscience has an average rating of "Buy" and an average price target of $13.22.

Niagen Bioscience Price Performance

The company has a market capitalization of $815.27 million, a PE ratio of 60.88 and a beta of 2.14. The business's 50 day simple moving average is $11.98 and its 200 day simple moving average is $8.04.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in Niagen Bioscience by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 176,976 shares of the company's stock valued at $939,000 after purchasing an additional 21,734 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Niagen Bioscience by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 144,621 shares of the company's stock valued at $767,000 after buying an additional 4,452 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Niagen Bioscience in the 4th quarter valued at $818,000. Intech Investment Management LLC purchased a new position in Niagen Bioscience during the 4th quarter valued at about $87,000. Finally, Quantbot Technologies LP purchased a new stake in Niagen Bioscience during the fourth quarter worth about $156,000. Hedge funds and other institutional investors 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.

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