Neptune Wellness Solutions (NASDAQ:NEPT) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Neptune Wellness Solutions Price Performance

The company has a market capitalization of $906,000.00, a P/E ratio of 0.00 and a beta of 2.19. Neptune Wellness Solutions has a 12 month low of $0.19 and a 12 month high of $28.00. The business has a 50 day simple moving average of $0.39 and a 200 day simple moving average of $3.12.

Insider Buying and Selling

In related news, major shareholder Securities Settlement Neptune sold 64,819 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $0.44, for a total value of $28,520.36. Following the completion of the transaction, the insider now owns 1,738,116 shares of the company’s stock, valued at $764,771.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neptune Wellness Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in Neptune Wellness Solutions by 12.6% in the third quarter. Renaissance Technologies LLC now owns 128,684 shares of the biotechnology company’s stock worth $196,000 after purchasing an additional 14,395 shares during the last quarter. Morgan Stanley grew its holdings in Neptune Wellness Solutions by 26,898.7% in the fourth quarter. Morgan Stanley now owns 544,833 shares of the biotechnology company’s stock worth $172,000 after purchasing an additional 542,815 shares during the last quarter. Virtu Financial LLC grew its holdings in Neptune Wellness Solutions by 257.6% in the first quarter. Virtu Financial LLC now owns 554,376 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 399,362 shares during the last quarter. Citadel Advisors LLC purchased a new position in Neptune Wellness Solutions in the third quarter worth $43,000. Finally, Stifel Financial Corp purchased a new position in Neptune Wellness Solutions in the first quarter worth $41,000. 14.44% of the stock is owned by hedge funds and other institutional investors.

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.