Nutriband (NASDAQ:NTRB) Stock Price Up 2.3% – Here’s What Happened

Nutriband Inc. (NASDAQ:NTRB) shares rose 2.3% during trading on Wednesday . The company traded as high as $3.59 and last traded at $3.53. Approximately 7,163 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 9,477 shares. The stock had previously closed at $3.45.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nutriband in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Nutriband Stock Up 2.3%

The stock has a 50 day simple moving average of $3.83 and a 200-day simple moving average of $4.42. The firm has a market cap of $42.91 million, a PE ratio of -1.36 and a beta of 1.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.36 and a quick ratio of 6.21.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nutriband stock. Cogent Private Wealth Inc. acquired a new position in Nutriband Inc. (NASDAQ:NTRB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,014 shares of the company’s stock, valued at approximately $73,000. Cogent Private Wealth Inc. owned 0.13% of Nutriband at the end of the most recent reporting period. 19.70% of the stock is owned by 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.