Short Interest in Niagen Bioscience, Inc. (NASDAQ:NAGE) Declines By 13.6%

Niagen Bioscience, Inc. (NASDAQ:NAGE) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 5,578,868 shares, a drop of 13.6% from the February 26th total of 6,457,826 shares. Based on an average daily trading volume, of 2,530,386 shares, the days-to-cover ratio is currently 2.2 days. Approximately 7.7% of the shares of the company are short sold.

Niagen Bioscience Trading Up 3.1%

NASDAQ NAGE traded up $0.14 during trading hours on Wednesday, hitting $4.55. 109,880 shares of the company’s stock traded hands, compared to its average volume of 1,207,561. The business’s fifty day moving average price is $5.15 and its two-hundred day moving average price is $6.50. The firm has a market capitalization of $363.96 million, a P/E ratio of 22.73 and a beta of 2.11. Niagen Bioscience has a 52 week low of $4.16 and a 52 week high of $14.69.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and set a $13.00 target price on shares of Niagen Bioscience in a research note on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Niagen Bioscience in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Niagen Bioscience from a “hold” rating to a “buy” rating in a report on Saturday. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Institutional Investors Weigh In On Niagen Bioscience

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its position in shares of Niagen Bioscience by 5.7% during the fourth quarter. SG Americas Securities LLC now owns 54,649 shares of the company’s stock worth $348,000 after purchasing an additional 2,950 shares in the last quarter. Swiss National Bank lifted its holdings in Niagen Bioscience by 3.0% in the 4th quarter. Swiss National Bank now owns 110,100 shares of the company’s stock worth $700,000 after purchasing an additional 3,200 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Niagen Bioscience by 5.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 60,342 shares of the company’s stock worth $384,000 after purchasing an additional 3,215 shares during the period. Financial Consulate Inc. bought a new position in Niagen Bioscience in the 3rd quarter worth approximately $33,000. Finally, Wells Fargo & Company MN grew its holdings in Niagen Bioscience by 6.9% during the 4th quarter. Wells Fargo & Company MN now owns 58,337 shares of the company’s stock valued at $371,000 after buying an additional 3,740 shares in the last quarter. 15.41% of the stock is currently owned by hedge funds and other institutional investors.

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. It operates through the following segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services.