HC Wainwright Forecasts Strong Price Appreciation for ChromaDex (NASDAQ:CDXC) Stock

ChromaDex (NASDAQ:CDXC) had its target price upped by HC Wainwright from $6.00 to $8.00 in a report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for ChromaDex’s Q4 2024 earnings at $0.04 EPS, FY2024 earnings at $0.06 EPS, Q1 2025 earnings at $0.04 EPS, Q2 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.05 EPS and Q4 2025 earnings at $0.06 EPS.

ChromaDex Stock Performance

CDXC opened at $5.74 on Monday. The firm has a market cap of $435.84 million, a price-to-earnings ratio of 574.57 and a beta of 1.88. The firm’s 50-day simple moving average is $3.57 and its 200-day simple moving average is $3.24. ChromaDex has a twelve month low of $1.32 and a twelve month high of $6.18.

ChromaDex (NASDAQ:CDXC) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter. The company had revenue of $25.58 million during the quarter, compared to analyst estimates of $23.70 million. ChromaDex had a net margin of 1.62% and a return on equity of 4.85%. During the same quarter last year, the business posted ($0.01) earnings per share. As a group, sell-side analysts anticipate that ChromaDex will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kristin Patrick sold 23,000 shares of ChromaDex stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $3.57, for a total value of $82,110.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.64% of the company’s stock.

Institutional Investors Weigh In On ChromaDex

A number of institutional investors and hedge funds have recently made changes to their positions in CDXC. Miracle Mile Advisors LLC bought a new position in ChromaDex in the second quarter valued at about $27,000. The Manufacturers Life Insurance Company acquired a new position in ChromaDex during the 2nd quarter valued at about $31,000. Merriman Wealth Management LLC bought a new position in shares of ChromaDex in the 2nd quarter valued at about $32,000. Lazard Asset Management LLC acquired a new stake in shares of ChromaDex during the 1st quarter worth approximately $43,000. Finally, SG Americas Securities LLC bought a new stake in shares of ChromaDex during the first quarter worth approximately $54,000. 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.