Nutriband (NASDAQ:NTRB) Shares Down 3.4% – Time to Sell?

Nutriband Inc. (NASDAQ:NTRB) dropped 3.4% during trading on Wednesday . The company traded as low as $3.41 and last traded at $3.41. Approximately 17,752 shares traded hands during trading, an increase of 84% from the average daily volume of 9,630 shares. The stock had previously closed at $3.53.

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 report on Wednesday, June 3rd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Nutriband has an average rating of “Reduce”.

Nutriband Price Performance

The firm has a market capitalization of $41.47 million, a P/E ratio of -1.31 and a beta of 1.90. The company has a quick ratio of 6.21, a current ratio of 6.36 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $3.75 and its 200 day simple moving average is $4.19.

Institutional Trading of Nutriband

A hedge fund recently bought a new stake in Nutriband stock. Cogent Private Wealth Inc. acquired a new stake in shares of Nutriband Inc. (NASDAQ:NTRB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,014 shares of the company’s stock, valued at approximately $73,000. Cogent Private Wealth Inc. owned 0.13% of Nutriband as of its most recent filing with the Securities and Exchange Commission (SEC). 19.70% of the stock is currently owned by institutional investors.

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.