Niagen Bioscience (NASDAQ:NAGE) Trading Down 6.4% - What's Next?

Key Points

• Niagen Bioscience's share price dropped by 6.4% to $9.27, with trading volume 16% below its average.
• Analysts generally favor the stock, with five reporting a "buy" rating and a revised consensus target price of $13.42.
• The company reported a profit of $0.04 per share for the last quarter, exceeding expectations, and had a revenue of $31.12 million.

Niagen Bioscience, Inc. (NASDAQ:NAGE - Get Free Report)'s share price fell 6.4% on Tuesday . The company traded as low as $9.26 and last traded at $9.27. 785,649 shares were traded during mid-day trading, a decline of 16% from the average session volume of 930,095 shares. The stock had previously closed at $9.90.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NAGE. Wall Street Zen downgraded shares of Niagen Bioscience from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, September 9th. Roth Capital reiterated a "buy" rating and set a $23.00 target price (up from $10.00) on shares of Niagen Bioscience in a research note on Friday, June 6th. Canaccord Genuity Group raised their price target on Niagen Bioscience from $13.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, HC Wainwright lifted their price objective on shares of Niagen Bioscience from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $13.42.

Niagen Bioscience Stock Performance

The stock has a market capitalization of $753.64 million, a P/E ratio of 45.00 and a beta of 2.22. The company's fifty day simple moving average is $9.70 and its two-hundred day simple moving average is $9.43.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $31.12 million for the quarter, compared to analysts' expectations of $28.55 million. Niagen Bioscience had a net margin of 15.24% and a return on equity of 23.12%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NAGE. ProShare Advisors LLC bought a new position in shares of Niagen Bioscience during the fourth quarter worth approximately $74,000. Deutsche Bank AG increased its holdings in shares of Niagen Bioscience by 1,733.4% during the fourth quarter. Deutsche Bank AG now owns 26,878 shares of the company's stock worth $143,000 after purchasing an additional 25,412 shares during the period. Bank of America Corp DE boosted its position in shares of Niagen Bioscience by 89.5% during the 4th quarter. Bank of America Corp DE now owns 52,144 shares of the company's stock worth $277,000 after acquiring an additional 24,622 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Niagen Bioscience during the 4th quarter worth approximately $555,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Niagen Bioscience during the 4th quarter worth approximately $675,000. 15.41% of the stock is owned by 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.

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