Niagen Bioscience (NASDAQ:NAGE) Shares Up 6% - Here's Why

Key Points

• Niagen Bioscience stock price increased by 6% to $9.88, with a total trading volume of approximately 560,548 shares.
• Analysts have upgraded the company's stock ratings, with a price target raised by Canaccord Genuity from $13.00 to $16.00 and Roth Capital from $10.00 to $23.00, indicating strong analyst confidence.
• Institutional investors hold 15.41% of Niagen's stock, with several firms establishing new stakes in the fourth quarter, reflecting increasing interest in the company.

Niagen Bioscience, Inc. (NASDAQ:NAGE - Get Free Report) shares rose 6% on Monday . The stock traded as high as $9.92 and last traded at $9.88. Approximately 560,548 shares changed hands during trading, a decline of 38% from the average daily volume of 903,524 shares. The stock had previously closed at $9.32.

Wall Street Analysts Forecast Growth

NAGE has been the subject of several research analyst reports. Roth Capital restated a "buy" rating and set a $23.00 price target (up previously from $10.00) on shares of Niagen Bioscience in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Niagen Bioscience from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 22nd. Finally, Canaccord Genuity Group upped their price target on shares of Niagen Bioscience from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $13.22.

Niagen Bioscience Trading Down 3.3%

The stock's fifty day simple moving average is $11.88 and its 200 day simple moving average is $8.23. The company has a market cap of $712.08 million, a price-to-earnings ratio of 53.18 and a beta of 2.14.

Hedge Funds Weigh In On Niagen Bioscience

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAGE. Geode Capital Management LLC increased its stake 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 worth $6,128,000 after acquiring an additional 5,186 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of 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 worth $5,365,000 after acquiring an additional 957,665 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Niagen Bioscience by 68.0% in the 4th 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 last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Niagen Bioscience by 288.1% in the 4th 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 last quarter. Finally, Northern Trust Corp increased its stake in shares of Niagen Bioscience by 13.8% in the 4th 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 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.