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

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

Niagen Bioscience Stock Up 2.5%

NASDAQ:NAGE opened at $4.52 on Thursday. Niagen Bioscience has a 52 week low of $4.16 and a 52 week high of $14.69. The stock’s fifty day moving average is $5.12 and its two-hundred day moving average is $6.49. The stock has a market capitalization of $361.96 million, a price-to-earnings ratio of 22.60 and a beta of 2.23.

Wall Street Analyst Weigh In

NAGE has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Niagen Bioscience in a research note on Thursday, January 22nd. Wall Street Zen raised Niagen Bioscience from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $13.00 target price on shares of Niagen Bioscience in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Institutional Investors Weigh In On Niagen Bioscience

Several large investors have recently added to or reduced their stakes in NAGE. Corient Private Wealth LLC purchased a new position in Niagen Bioscience in the 4th quarter valued at approximately $200,000. Invesco Ltd. raised its stake in Niagen Bioscience by 28.5% in the fourth quarter. Invesco Ltd. now owns 43,641 shares of the company’s stock valued at $278,000 after buying an additional 9,688 shares in the last quarter. SummitTX Capital L.P. purchased a new stake in Niagen Bioscience during the 4th quarter worth about $79,000. Tudor Investment Corp ET AL purchased a new stake in Niagen Bioscience during the 4th quarter worth about $360,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Niagen Bioscience during the 4th quarter worth about $104,000. 15.41% of the stock is 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.