ChromaDex (NASDAQ:CDXC) Shares Down 8.1% – What’s Next?

ChromaDex Co. (NASDAQ:CDXC)’s share price dropped 8.1% during mid-day trading on Thursday . The stock traded as low as $7.97 and last traded at $7.86. Approximately 1,034,433 shares were traded during trading, an increase of 25% from the average daily volume of 826,390 shares. The stock had previously closed at $8.55.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. LADENBURG THALM/SH SH raised their price objective on ChromaDex from $6.80 to $8.10 and gave the stock a “buy” rating in a research note on Wednesday. Roth Mkm lifted their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of ChromaDex from a “buy” rating to a “strong-buy” rating in a report on Monday, February 24th.

ChromaDex Trading Down 10.1 %

The company has a 50 day simple moving average of $5.68 and a 200 day simple moving average of $5.13. The stock has a market cap of $587.39 million, a P/E ratio of 767.87 and a beta of 2.21.

Insider Activity at ChromaDex

In other news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $6.19, for a total transaction of $230,026.59. Following the completion of the transaction, the director now owns 244,179 shares of the company’s stock, valued at approximately $1,511,468.01. This trade represents a 13.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ChromaDex

Large investors have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. increased its position in ChromaDex by 1,785.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,011,290 shares of the company’s stock valued at $5,365,000 after buying an additional 957,665 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of ChromaDex by 288.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 662,956 shares of the company’s stock valued at $3,517,000 after buying an additional 492,148 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of ChromaDex by 189.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 506,186 shares of the company’s stock worth $2,685,000 after purchasing an additional 331,014 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in ChromaDex in the 4th quarter valued at $1,647,000. Finally, Renaissance Technologies LLC lifted its position in shares of ChromaDex by 68.0% during the fourth quarter. Renaissance Technologies LLC now owns 712,788 shares of the company’s stock valued at $3,781,000 after purchasing an additional 288,588 shares in the last quarter. 15.41% of the stock is currently owned by institutional investors and hedge funds.

ChromaDex Company Profile

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.