ChromaDex (NASDAQ:CDXC) Sets New 52-Week High – Here’s Why

ChromaDex Co. (NASDAQ:CDXC) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $8.16 and last traded at $8.38, with a volume of 3436130 shares traded. The stock had previously closed at $5.60.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CDXC. Roth Mkm boosted their target price on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. StockNews.com raised shares of ChromaDex from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 24th.

ChromaDex Price Performance

The business has a 50 day simple moving average of $5.62 and a 200-day simple moving average of $5.11. The stock has a market capitalization of $672.55 million, a price-to-earnings ratio of 883.98 and a beta of 2.21.

Insider Activity

In other ChromaDex 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ChromaDex

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. USA Financial Formulas bought a new position in ChromaDex during the 4th quarter worth about $25,000. State of Wyoming bought a new stake in ChromaDex in the 4th quarter valued at approximately $39,000. Mercer Global Advisors Inc. ADV bought a new stake in ChromaDex in the 4th quarter valued at approximately $53,000. Truist Financial Corp acquired a new position in ChromaDex during the 4th quarter worth approximately $54,000. Finally, FMR LLC bought a new position in shares of ChromaDex during the 3rd quarter worth approximately $55,000. 15.41% of the stock is currently owned by institutional investors and hedge funds.

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.