ChromaDex (NASDAQ:CDXC) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of ChromaDex (NASDAQ:CDXC) from a buy rating to a strong-buy rating in a research report released on Monday.

Other analysts have also recently issued research reports about the stock. Roth Mkm upped their price target on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright upped their price target on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

ChromaDex Trading Up 1.5 %

Shares of CDXC opened at $5.50 on Monday. The stock has a market capitalization of $420.11 million, a P/E ratio of 550.55 and a beta of 2.21. The firm’s fifty day simple moving average is $5.62 and its two-hundred day simple moving average is $5.00. ChromaDex has a 12 month low of $1.51 and a 12 month high of $7.97.

Insider Activity

In other news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $6.19, for a total transaction of $230,026.59. Following the transaction, the director now owns 244,179 shares in the company, valued at approximately $1,511,468.01. This represents a 13.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.64% of the company’s stock.

Hedge Funds Weigh In On ChromaDex

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of ChromaDex by 0.5% during the fourth 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. raised its holdings in shares of 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 worth $5,365,000 after acquiring an additional 957,665 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of ChromaDex by 68.0% in the 4th quarter. Renaissance Technologies LLC now owns 712,788 shares of the company’s stock worth $3,781,000 after acquiring an additional 288,588 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of 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 acquiring an additional 492,148 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of ChromaDex by 11.3% in the 3rd 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 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.