ChromaDex (NASDAQ:CDXC) Earns “Buy” Rating from HC Wainwright

ChromaDex (NASDAQ:CDXC)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $11.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 39.77% from the stock’s previous close.

Several other equities analysts have also commented on the stock. StockNews.com lowered shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 6th. LADENBURG THALM/SH SH increased their price target on shares of ChromaDex from $6.80 to $8.10 and gave the company a “buy” rating in a research note on Wednesday, March 5th.

ChromaDex Stock Performance

CDXC stock opened at $7.87 on Monday. The company’s 50 day moving average price is $6.11 and its 200 day moving average price is $5.42. ChromaDex has a fifty-two week low of $2.31 and a fifty-two week high of $9.18. The firm has a market capitalization of $611.89 million, a price-to-earnings ratio of 787.79 and a beta of 2.21.

Hedge Funds Weigh In On ChromaDex

Several hedge funds have recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC boosted its holdings in shares of ChromaDex by 5.5% in the third quarter. OneDigital Investment Advisors LLC now owns 59,414 shares of the company’s stock valued at $217,000 after acquiring an additional 3,097 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of ChromaDex by 10.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 175,172 shares of the company’s stock valued at $639,000 after acquiring an additional 17,115 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of ChromaDex by 75.4% in the third quarter. The Manufacturers Life Insurance Company now owns 19,732 shares of the company’s stock valued at $72,000 after acquiring an additional 8,485 shares during the period. Millrace Asset Group Inc. acquired a new stake in shares of ChromaDex in the third quarter valued at approximately $93,000. Finally, FMR LLC acquired a new stake in shares of ChromaDex in the third quarter valued at approximately $55,000. 15.41% of the stock is currently owned by hedge funds and other institutional investors.

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.