Nutriband (NASDAQ:NTRB) Shares Down 2.3% – Time to Sell?

Nutriband Inc. (NASDAQ:NTRB)’s stock price dropped 2.3% during trading on Tuesday . The stock traded as low as $3.72 and last traded at $3.75. Approximately 9,024 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 14,789 shares. The stock had previously closed at $3.84.

Nutriband Price Performance

The company has a current ratio of 7.52, a quick ratio of 7.35 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average price is $4.27 and its two-hundred day moving average price is $5.34. The stock has a market cap of $46.89 million, a P/E ratio of -1.25 and a beta of 1.78.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 Form 13F filing with the SEC. The institutional investor bought 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 filing with the SEC. 19.70% of the stock is currently owned by institutional investors and hedge funds.

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.