ChromaDex (NASDAQ:CDXC) Trading Down 5.6% – Here’s Why

ChromaDex Co. (NASDAQ:CDXC) shares fell 5.6% during trading on Thursday . The company traded as low as $7.47 and last traded at $7.39. 62,790 shares changed hands during trading, a decline of 93% from the average session volume of 867,001 shares. The stock had previously closed at $7.83.

Analysts Set New Price Targets

CDXC has been the topic of a number of recent research reports. StockNews.com lowered ChromaDex from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 6th. LADENBURG THALM/SH SH raised their price objective on ChromaDex from $6.80 to $8.10 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, HC Wainwright upped their target price on shares of ChromaDex from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday.

ChromaDex Stock Down 3.6 %

The stock has a 50-day moving average of $5.92 and a 200 day moving average of $5.28. The company has a market capitalization of $587.01 million, a PE ratio of 757.86 and a beta of 2.21.

Insider Activity

In related news, Director Frank L. Jaksch, Jr. sold 37,161 shares of ChromaDex stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $6.19, for a total value of $230,026.59. Following the sale, the director now owns 244,179 shares of the company’s stock, valued at approximately $1,511,468.01. The trade was a 13.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.64% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC bought a new stake in ChromaDex in the 4th quarter valued at about $555,000. Two Sigma Investments LP bought a new stake in shares of ChromaDex in the fourth quarter valued at approximately $675,000. State of Wyoming purchased a new stake in shares of ChromaDex during the 4th quarter valued at approximately $39,000. Sherbrooke Park Advisers LLC bought a new position in ChromaDex in the 4th quarter worth approximately $94,000. Finally, ProShare Advisors LLC purchased a new position in ChromaDex in the 4th quarter valued at approximately $74,000. Hedge funds and other institutional investors own 15.41% of the company’s stock.

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.