ChromaDex (NASDAQ:CDXC) Coverage Initiated at StockNews.com

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

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

ChromaDex Stock Performance

The firm has a market cap of $611.50 million, a price-to-earnings ratio of 787.29 and a beta of 2.21. The company’s fifty day simple moving average is $6.16 and its 200-day simple moving average is $5.44. ChromaDex has a 12-month low of $2.31 and a 12-month high of $9.18.

Institutional Trading of ChromaDex

Several hedge funds and other institutional investors have recently modified their holdings of CDXC. USA Financial Formulas acquired a new stake in shares of ChromaDex in the fourth quarter valued at approximately $25,000. State of Wyoming bought a new position in ChromaDex in the fourth quarter valued at $39,000. Mercer Global Advisors Inc. ADV acquired a new stake in ChromaDex in the 4th quarter valued at $53,000. Truist Financial Corp acquired a new stake in shares of ChromaDex in the fourth quarter valued at about $54,000. Finally, FMR LLC bought a new stake in ChromaDex during the third quarter worth about $55,000. 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.