ChromaDex’s (CDXC) Buy Rating Reaffirmed at HC Wainwright

ChromaDex (NASDAQ:CDXC)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $11.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 40.31% from the stock’s previous close.

CDXC has been the subject of a number of other reports. StockNews.com cut ChromaDex from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 6th. LADENBURG THALM/SH SH upped their target price on shares of ChromaDex from $6.80 to $8.10 and gave the company a “buy” rating in a report on Wednesday, March 5th.

ChromaDex Price Performance

Shares of CDXC opened at $7.84 on Monday. ChromaDex has a 1-year low of $2.02 and a 1-year high of $9.18. The stock has a market cap of $609.56 million, a price-to-earnings ratio of 784.78 and a beta of 2.21. The firm has a 50 day simple moving average of $6.01 and a 200-day simple moving average of $5.36.

Institutional Investors Weigh In On ChromaDex

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