ChromaDex (NASDAQ:CDXC) Earns Buy Rating from Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of ChromaDex (NASDAQ:CDXC) in a research note issued to investors on Sunday. The brokerage set a “buy” rating on the stock.

Other equities analysts have also issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of ChromaDex in a report on Monday, March 17th. LADENBURG THALM/SH SH increased their target price on ChromaDex from $6.80 to $8.10 and gave the company a “buy” rating in a research note on Wednesday, March 5th.

ChromaDex Price Performance

The company has a fifty day moving average price of $6.16 and a 200-day moving average price of $5.44. The firm has a market cap of $611.50 million, a price-to-earnings ratio of 787.29 and a beta of 2.21. ChromaDex has a 52 week low of $2.31 and a 52 week high of $9.18.

Institutional Trading of ChromaDex

A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its holdings in ChromaDex by 75.4% in the third quarter. The Manufacturers Life Insurance Company now owns 19,732 shares of the company’s stock valued at $72,000 after buying an additional 8,485 shares during the last quarter. FMR LLC acquired a new position in shares of ChromaDex in the 3rd quarter valued at about $55,000. BNP Paribas Financial Markets grew its position in shares of ChromaDex by 1,885.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 73,272 shares of the company’s stock valued at $267,000 after buying an additional 69,582 shares during the last quarter. State Street Corp raised its stake in ChromaDex by 11.3% during the third quarter. State Street Corp now owns 618,028 shares of the company’s stock worth $2,256,000 after acquiring an additional 62,692 shares during the period. Finally, Jane Street Group LLC lifted its holdings in ChromaDex by 100.3% in the third quarter. Jane Street Group LLC now owns 45,712 shares of the company’s stock worth $167,000 after acquiring an additional 22,889 shares during the last quarter. Institutional investors and hedge funds own 15.41% of the company’s stock.

About ChromaDex

ChromaDex Corporation operates as a bioscience company focusing on developing healthy aging products. The company operates through three segments: Consumer products; Ingredients; and Analytical Reference Standards and Services. It researches nicotinamide adenine dinucleotide (NAD+); provides finished dietary supplement products that contain its proprietary ingredients directly to consumers and distributors; and develops and commercializes proprietary-based ingredient technologies and supplies these ingredients as raw materials to the manufacturers of consumer products.