Niagen Bioscience (NASDAQ:NAGE) Shares Down 3.4% – Here’s What Happened

Niagen Bioscience, Inc. (NASDAQ:NAGE) was down 3.4% during mid-day trading on Wednesday . The stock traded as low as $6.01 and last traded at $6.03. Approximately 574,790 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 723,201 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NAGE. Weiss Ratings restated a “hold (c)” rating on shares of Niagen Bioscience in a research note on Thursday, January 22nd. Canaccord Genuity Group reduced their target price on Niagen Bioscience from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.28.

Niagen Bioscience Stock Down 3.4%

The stock has a market capitalization of $481.25 million, a price-to-earnings ratio of 25.13 and a beta of 2.35. The stock’s 50-day simple moving average is $6.49 and its 200 day simple moving average is $8.00.

Niagen Bioscience (NASDAQ:NAGE) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $33.99 million during the quarter, compared to analysts’ expectations of $31.30 million. Niagen Bioscience had a return on equity of 24.13% and a net margin of 16.38%.

Insider Buying and Selling at Niagen Bioscience

In other news, CFO Ozan Pamir acquired 4,465 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were purchased at an average cost of $6.81 per share, for a total transaction of $30,406.65. Following the transaction, the chief financial officer owned 7,372 shares of the company’s stock, valued at approximately $50,203.32. This represents a 153.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Niagen Bioscience

Several hedge funds have recently bought and sold shares of NAGE. Precision Wealth Strategies LLC acquired a new stake in shares of Niagen Bioscience during the third quarter worth $1,527,000. BSW Wealth Partners bought a new position in Niagen Bioscience during the 3rd quarter worth about $793,000. Silverberg Bernstein Capital Management LLC bought a new position in Niagen Bioscience during the 3rd quarter worth about $1,169,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Niagen Bioscience during the third quarter worth about $980,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Niagen Bioscience during the third quarter worth about $44,000. 15.41% of the stock is currently 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. It operates through the following segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services.