ChromaDex (NASDAQ:CDXC) Stock Price Expected to Rise, HC Wainwright Analyst Says

ChromaDex (NASDAQ:CDXC) had its target price upped by HC Wainwright from $8.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 42.86% from the company’s previous close.

CDXC has been the topic of several other research reports. LADENBURG THALM/SH SH upped their price target on ChromaDex from $6.80 to $8.10 and gave the company a “buy” rating in a report on Wednesday, March 5th. StockNews.com lowered ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

ChromaDex Price Performance

Shares of CDXC opened at $7.70 on Monday. The firm’s 50 day moving average is $5.77 and its 200-day moving average is $5.20. ChromaDex has a 12-month low of $1.61 and a 12-month high of $9.18. The stock has a market capitalization of $598.68 million, a P/E ratio of 770.77 and a beta of 2.21.

Insider Activity

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 stock was sold at an average price of $6.19, for a total value of $230,026.59. Following the completion of the sale, the director now owns 244,179 shares of the company’s stock, valued at $1,511,468.01. This trade represents a 13.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 9.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On ChromaDex

Several hedge funds have recently bought and sold shares of CDXC. Geode Capital Management LLC increased its holdings in shares of ChromaDex by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,154,778 shares of the company’s stock valued at $6,128,000 after purchasing an additional 5,186 shares during the period. D. E. Shaw & Co. Inc. increased its stake 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 during the period. Renaissance Technologies LLC increased its stake in ChromaDex by 68.0% in the 4th quarter. Renaissance Technologies LLC now owns 712,788 shares of the company’s stock valued at $3,781,000 after buying an additional 288,588 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in ChromaDex by 288.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 662,956 shares of the company’s stock worth $3,517,000 after buying an additional 492,148 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of ChromaDex by 11.3% during the 3rd quarter. State Street Corp now owns 618,028 shares of the company’s stock valued at $2,256,000 after buying an additional 62,692 shares during the period. 15.41% of the stock is owned by hedge funds and other institutional investors.

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.