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

ChromaDex (NASDAQ:CDXC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

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

ChromaDex Stock Performance

Shares of CDXC traded up $0.08 during midday trading on Monday, hitting $5.50. 475,142 shares of the stock traded hands, compared to its average volume of 360,081. The business’s 50 day moving average price is $5.62 and its two-hundred day moving average price is $5.00. The firm has a market capitalization of $420.11 million, a PE ratio of 550.55 and a beta of 2.21. ChromaDex has a 1-year low of $1.51 and a 1-year high of $7.97.

Insider Activity at ChromaDex

In related news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 244,179 shares in the company, valued at $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 available through the SEC website. Company insiders own 9.64% of the company’s stock.

Institutional Investors Weigh In On ChromaDex

A number of institutional investors have recently added to or reduced their stakes in CDXC. USA Financial Formulas bought a new stake in shares of ChromaDex in the 4th quarter worth $25,000. State of Wyoming acquired a new position in ChromaDex during the fourth quarter worth about $39,000. Mercer Global Advisors Inc. ADV bought a new stake in ChromaDex in the fourth quarter worth about $53,000. Truist Financial Corp bought a new stake in shares of ChromaDex in the 4th quarter worth approximately $54,000. Finally, FMR LLC acquired a new stake in shares of ChromaDex during the 3rd quarter valued at $55,000. 15.41% of the stock is currently owned by institutional investors and hedge funds.

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.