ChromaDex (NASDAQ:CDXC) Stock Price Down 8.1% - Should You Sell?

ChromaDex Co. (NASDAQ:CDXC - Get Free Report)'s stock price dropped 8.1% during mid-day trading on Thursday . The stock traded as low as $7.97 and last traded at $7.86. Approximately 1,034,433 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 826,390 shares. The stock had previously closed at $8.55.

Analysts Set New Price Targets

CDXC has been the topic of several recent research reports. StockNews.com lowered ChromaDex from a "strong-buy" rating to a "buy" rating in a report on Thursday. HC Wainwright increased their price target on ChromaDex from $8.00 to $11.00 and gave the stock a "buy" rating in a report on Monday. Finally, LADENBURG THALM/SH SH increased their price target on ChromaDex from $6.80 to $8.10 and gave the stock a "buy" rating in a report on Wednesday, March 5th.

ChromaDex Stock Up 2.3 %

The stock has a market capitalization of $612.67 million, a PE ratio of 788.79 and a beta of 2.21. The firm has a 50 day moving average price of $5.82 and a 200 day moving average price of $5.24.

Insider Transactions at ChromaDex

In related news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $6.19, for a total transaction of $230,026.59. Following the completion of the sale, the director now directly owns 244,179 shares of the company's stock, valued at approximately $1,511,468.01. This trade represents a 13.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.64% of the company's stock.

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Institutional Trading of ChromaDex

Institutional investors and hedge funds have recently modified their holdings of the business. USA Financial Formulas purchased a new stake in shares of ChromaDex during the fourth quarter valued at approximately $25,000. State of Wyoming purchased a new stake in shares of ChromaDex during the fourth quarter valued at approximately $39,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of ChromaDex during the fourth quarter valued at approximately $53,000. Truist Financial Corp purchased a new stake in shares of ChromaDex during the fourth quarter valued at approximately $54,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of ChromaDex during the fourth quarter valued at approximately $67,000. 15.41% of the stock is owned by hedge funds and other institutional investors.

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.