Niagen Bioscience (NASDAQ:NAGE) Shares Down 4% - Time to Sell?

Niagen Bioscience, Inc. (NASDAQ:NAGE - Get Free Report) fell 4% during trading on Thursday . The stock traded as low as $11.03 and last traded at $11.04. 229,801 shares changed 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.

Wall Street Analysts Forecast Growth

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

Niagen Bioscience Stock Performance

The firm has a market capitalization of $762.49 million, a PE ratio of 56.94 and a beta of 2.14. The company has a fifty day simple moving average of $12.03 and a two-hundred day simple moving average of $8.10.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NAGE. Geode Capital Management LLC grew its holdings in Niagen Bioscience by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,154,778 shares of the company's stock worth $6,128,000 after acquiring an additional 5,186 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in Niagen Bioscience by 1,785.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,011,290 shares of the company's stock worth $5,365,000 after acquiring an additional 957,665 shares during the period. Renaissance Technologies LLC grew its holdings in Niagen Bioscience by 68.0% during the fourth quarter. Renaissance Technologies LLC now owns 712,788 shares of the company's stock worth $3,781,000 after acquiring an additional 288,588 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Niagen Bioscience by 288.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 662,956 shares of the company's stock worth $3,517,000 after acquiring an additional 492,148 shares during the period. Finally, Northern Trust Corp grew its holdings in Niagen Bioscience by 13.8% during the fourth quarter. Northern Trust Corp now owns 429,873 shares of the company's stock worth $2,280,000 after acquiring an additional 52,170 shares during the period. 15.41% of the stock is owned by institutional investors and hedge funds.

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.