Zacks Investment Research upgraded shares of Chromadex (NASDAQ:CDXC) from a hold rating to a buy rating in a report issued on Monday. They currently have $4.00 price target on the stock.
According to Zacks, “ChromaDex Corporation and its subsidiaries supply phytochemical reference standards and reference materials, related contract services, and products for the dietary supplement, nutraceutical, food and beverage, functional food, pharmaceutical and cosmetic markets. ChromaDex’s core business strategy is to use the intellectual property harnessed by its expertise in the area of natural products and in the creation of reference materials to the industry as the basis for providing new and alternative, green, mass marketable products to its customers. The Company’s main priority is to create industry-accepted information, and to provide products and services to every layer of the functional food, pharmaceutical, personal care and dietary supplement markets. The company markets and sells its products in the United States and Canada. It offers its products through distributors in Europe, South America, Korea, India, Japan, Australia, New Zealand, China, Indonesia, Malaysia, Singapore, Thailand, and Mexico. “
Separately, HC Wainwright set a $7.00 price target on Chromadex and gave the stock a buy rating in a research report on Wednesday, January 23rd.
A number of hedge funds have recently made changes to their positions in CDXC. Rhumbline Advisers boosted its position in Chromadex by 53.3% during the 4th quarter. Rhumbline Advisers now owns 48,511 shares of the company’s stock worth $166,000 after acquiring an additional 16,863 shares during the period. Citadel Advisors LLC boosted its position in Chromadex by 160.5% during the 3rd quarter. Citadel Advisors LLC now owns 44,336 shares of the company’s stock worth $190,000 after acquiring an additional 27,315 shares during the period. Schwab Charles Investment Management Inc. acquired a new position in Chromadex during the 2nd quarter worth $267,000. Bank of New York Mellon Corp boosted its position in Chromadex by 326.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 101,106 shares of the company’s stock worth $375,000 after acquiring an additional 77,420 shares during the period. Finally, Northern Trust Corp boosted its position in Chromadex by 113.4% during the 2nd quarter. Northern Trust Corp now owns 119,300 shares of the company’s stock worth $443,000 after acquiring an additional 63,398 shares during the period. Institutional investors own 17.25% of the company’s stock.
Chromadex Company Profile
ChromaDex Corporation operates as a nutraceutical company. The company offers research and quality control products and services to dietary supplements, food, beverages, cosmetic, and pharmaceutical industries; Nicotinamide riboside (NIAGEN), a novel form of vitamin B3 for enhancing nicotinamide adenine dinucleotide(NAD) level used for healthy aging; Pterostilbene (pTeroPure), a polyphenol and antioxidant used in health related fields; and Immulina, a spirulina extract and compound, which is used for improving human immune function, as well as developing Pterostilbene and caffeine co-crystal ingredients, and anthocyanins ingredients.
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