Nutriband (NASDAQ:NTRB) Shares Up 3.6% – What’s Next?

Shares of Nutriband Inc. (NASDAQ:NTRB) shot up 3.6% on Thursday . The stock traded as high as $3.26 and last traded at $3.19. Approximately 2,350 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 8,313 shares. The stock had previously closed at $3.08.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Nutriband from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

Nutriband Stock Up 3.6%

The stock has a market cap of $38.79 million, a price-to-earnings ratio of -1.24 and a beta of 1.98. The firm’s 50 day moving average is $3.10 and its two-hundred day moving average is $3.67.

Nutriband (NASDAQ:NTRB) last announced its earnings results on Thursday, June 11th. The company reported ($0.10) earnings per share (EPS) for the quarter. Nutriband had a negative net margin of 448.25% and a negative return on equity of 112.64%. The company had revenue of $0.43 million during the quarter.

Institutional Trading of Nutriband

An institutional investor recently bought a new stake in Nutriband stock. Cogent Private Wealth Inc. purchased a new position in Nutriband Inc. (NASDAQ:NTRB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,014 shares of the company’s stock, valued at approximately $73,000. Cogent Private Wealth Inc. owned approximately 0.13% of Nutriband as of its most recent SEC filing. Institutional investors own 19.70% of the company’s stock.

About Nutriband

Nutriband Inc develops a portfolio of transdermal pharmaceutical products. Its lead product in development is AVERSA fentanyl, an abuse deterrent fentanyl transdermal system that provides clinicians and patients with an extended-release transdermal fentanyl product for use in managing chronic pain requiring around the clock opioid therapy. The company also develops other products, which include AVERSA buprenorphine and AVERSA methylphenidate; exenatide for type 2 diabetes; and follicle stimulating hormone for infertility.