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

StockNews.com started coverage on shares of ChromaDex (NASDAQ:CDXC) in a research report sent to investors on Thursday morning. The brokerage issued a buy rating on the stock.

CDXC has been the topic of a number of other reports. LADENBURG THALM/SH SH boosted their target price on shares of ChromaDex from $6.80 to $8.10 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of ChromaDex in a research note on Monday, March 17th.

ChromaDex Stock Performance

The stock’s 50 day moving average price is $6.16 and its two-hundred day moving average price is $5.44. ChromaDex has a 12-month low of $2.31 and a 12-month high of $9.18. The firm has a market capitalization of $611.50 million, a PE ratio of 787.29 and a beta of 2.21.

Institutional Trading of ChromaDex

A number of hedge funds and other institutional investors have recently made changes to their positions in CDXC. D. E. Shaw & Co. Inc. increased its stake in shares of ChromaDex by 1,785.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,011,290 shares of the company’s stock worth $5,365,000 after buying an additional 957,665 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in ChromaDex by 288.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 662,956 shares of the company’s stock valued at $3,517,000 after purchasing an additional 492,148 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in ChromaDex by 189.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 506,186 shares of the company’s stock valued at $2,685,000 after purchasing an additional 331,014 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in ChromaDex during the fourth quarter valued at $1,647,000. Finally, Renaissance Technologies LLC increased its stake in ChromaDex by 68.0% during the fourth quarter. Renaissance Technologies LLC now owns 712,788 shares of the company’s stock valued at $3,781,000 after purchasing an additional 288,588 shares during the last quarter. Institutional investors own 15.41% of the company’s stock.

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.