Nutriband (NASDAQ:NTRB) Shares Down 3.9% – Here’s What Happened

Nutriband Inc. (NASDAQ:NTRBGet Free Report) shares fell 3.9% on Thursday . The company traded as low as $2.92 and last traded at $2.93. 13,734 shares changed hands during trading, an increase of 8% from the average daily volume of 12,696 shares. The stock had previously closed at $3.05.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Nutriband from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 1st. One research 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, Nutriband currently has a consensus rating of “Reduce”.

View Our Latest Report on Nutriband

Nutriband Trading Down 3.9%

The firm has a market capitalization of $35.63 million, a P/E ratio of -1.14 and a beta of 1.93. The stock has a 50-day simple moving average of $3.27 and a two-hundred day simple moving average of $3.82.

Nutriband (NASDAQ:NTRBGet Free Report) last posted its quarterly earnings results on Thursday, June 11th. The company reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $0.43 million for the quarter. Nutriband had a negative return on equity of 112.64% and a negative net margin of 448.25%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nutriband stock. Vanguard Group Inc. grew its holdings in Nutriband Inc. (NASDAQ:NTRBFree Report) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 202,738 shares of the company’s stock after purchasing an additional 3,111 shares during the quarter. Vanguard Group Inc. owned approximately 1.68% of Nutriband worth $1,429,000 at the end of the most recent reporting period. 19.70% of the stock is owned by hedge funds and other institutional investors.

About Nutriband

(Get Free Report)

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.

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