Neptune Wellness Solutions (NASDAQ:NEPT) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) in a report released on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Neptune Wellness Solutions Stock Performance

Neptune Wellness Solutions has a 52 week low of $0.19 and a 52 week high of $28.00. The firm has a fifty day moving average of $0.39 and a 200-day moving average of $3.12. The company has a market cap of $906,000.00, a price-to-earnings ratio of 0.00 and a beta of 2.19.

Insider Activity

In other news, major shareholder Securities Settlement Neptune sold 64,819 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $0.44, for a total value of $28,520.36. Following the completion of the sale, the insider now owns 1,738,116 shares of the company’s stock, valued at approximately $764,771.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NEPT. Virtu Financial LLC raised its position in Neptune Wellness Solutions by 257.6% during the 1st quarter. Virtu Financial LLC now owns 554,376 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 399,362 shares during the last quarter. Renaissance Technologies LLC raised its position in Neptune Wellness Solutions by 12.6% during the 3rd quarter. Renaissance Technologies LLC now owns 128,684 shares of the biotechnology company’s stock valued at $196,000 after purchasing an additional 14,395 shares during the last quarter. Citadel Advisors LLC bought a new position in Neptune Wellness Solutions during the 3rd quarter valued at approximately $43,000. Morgan Stanley raised its position in Neptune Wellness Solutions by 26,898.7% during the 4th quarter. Morgan Stanley now owns 544,833 shares of the biotechnology company’s stock valued at $172,000 after purchasing an additional 542,815 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in Neptune Wellness Solutions during the 1st quarter valued at approximately $41,000. Institutional investors own 14.44% of the company’s stock.

About Neptune Wellness Solutions

Neptune Wellness Solutions Inc, a health and wellness products company, specializes in the extraction, purification and formulation of cannabis products, as well as other specialty ingredients, such as MaxSimil, a patented ingredient that enhances the absorption of lipid-based nutraceuticals, and various other marine and seed oils.