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

Investment analysts at StockNews.com initiated coverage on shares of ChromaDex (NASDAQ:CDXC) in a report released on Friday. The brokerage set a “buy” rating on the stock.

Several other research firms have also issued reports on CDXC. HC Wainwright reissued 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 raised their target price on shares of ChromaDex from $6.80 to $8.10 and gave the company a “buy” rating in a research report on Wednesday, March 5th.

ChromaDex Price Performance

ChromaDex has a one year low of $2.31 and a one year high of $9.18. The company has a market cap of $611.50 million, a P/E ratio of 787.29 and a beta of 2.21. The firm has a 50-day moving average price of $6.16 and a two-hundred day moving average price of $5.44.

Hedge Funds Weigh In On ChromaDex

A number of institutional investors and hedge funds have recently modified their holdings of the business. USA Financial Formulas bought a new position in ChromaDex in the fourth quarter worth approximately $25,000. State of Wyoming acquired a new stake in shares of ChromaDex in the 4th quarter worth about $39,000. Mercer Global Advisors Inc. ADV bought a new position in ChromaDex in the 4th quarter valued at about $53,000. Truist Financial Corp bought a new stake in ChromaDex during the 4th quarter worth approximately $54,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of ChromaDex in the fourth quarter valued at approximately $67,000. 15.41% of the stock is currently owned by institutional investors.

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.