Arrowstreet Capital Limited Partnership Grows Stake in Niagen Bioscience, Inc. $NAGE

Arrowstreet Capital Limited Partnership increased its stake in shares of Niagen Bioscience, Inc. (NASDAQ:NAGE) by 47.1% in the 1st quarter, Holdings Channel reports. The firm owned 2,378,437 shares of the company’s stock after purchasing an additional 761,685 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Niagen Bioscience were worth $10,489,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NAGE. JPMorgan Chase & Co. acquired a new stake in Niagen Bioscience in the 3rd quarter worth about $3,678,000. Vanguard Group Inc. acquired a new position in shares of Niagen Bioscience during the third quarter valued at approximately $37,522,000. Ameritas Investment Partners Inc. acquired a new position in shares of Niagen Bioscience during the third quarter valued at approximately $45,000. Intech Investment Management LLC acquired a new stake in shares of Niagen Bioscience in the third quarter worth approximately $202,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Niagen Bioscience in the third quarter worth approximately $48,000. Institutional investors and hedge funds own 15.41% of the company’s stock.

Niagen Bioscience Trading Up 2.4%

Shares of NAGE opened at $3.40 on Friday. Niagen Bioscience, Inc. has a 12-month low of $3.12 and a 12-month high of $11.29. The firm has a 50-day moving average price of $3.44 and a 200 day moving average price of $4.42. The firm has a market capitalization of $270.78 million, a P/E ratio of 16.19 and a beta of 2.09.

Niagen Bioscience (NASDAQ:NAGE) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Niagen Bioscience had a return on equity of 22.68% and a net margin of 14.29%.The firm had revenue of $31.47 million for the quarter. Equities research analysts predict that Niagen Bioscience, Inc. will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

NAGE has been the topic of a number of research reports. Wall Street Zen lowered Niagen Bioscience from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Freedom Capital raised shares of Niagen Bioscience to a “strong-buy” rating in a report on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Niagen Bioscience in a research note on Friday, July 17th. Canaccord Genuity Group decreased their price target on shares of Niagen Bioscience from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, HC Wainwright restated a “buy” rating on shares of Niagen Bioscience in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.50.

Niagen Bioscience Company Profile

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.