Nutriband (NASDAQ:NTRB) Shares Up 3.6% – Time to Buy?

Nutriband Inc. (NASDAQ:NTRB)’s stock price shot up 3.6% during mid-day trading on Thursday . The company 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 daily volume of 8,313 shares. The stock had previously closed at $3.08.

Wall Street Analyst Weigh In

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

Nutriband Trading Up 3.4%

The firm has a market capitalization of $40.11 million, a P/E ratio of -1.28 and a beta of 1.98. The firm has a 50 day moving average price of $3.09 and a 200-day moving average price of $3.67.

Nutriband (NASDAQ:NTRB) last released its earnings results on Thursday, June 11th. The company reported ($0.10) earnings per share 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 for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Nutriband stock. Cogent Private Wealth Inc. bought a new position in Nutriband Inc. (NASDAQ:NTRB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 16,014 shares of the company’s stock, valued at approximately $73,000. Cogent Private Wealth Inc. owned about 0.13% of Nutriband at the end of the most recent quarter. 19.70% of the stock is owned by hedge funds and other institutional investors.

Nutriband Company Profile

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.