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. “
A number of other research firms have also issued reports on CDXC. ValuEngine raised shares of Chromadex from a hold rating to a buy rating in a research report on Monday, March 25th. B. Riley started coverage on shares of Chromadex in a research report on Thursday, February 14th. They set a buy rating and a $7.00 price target for the company. Finally, HC Wainwright set a $7.00 price objective on shares of Chromadex and gave the stock a buy rating in a research note on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $6.00.
Chromadex (NASDAQ:CDXC) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Chromadex had a negative return on equity of 90.20% and a negative net margin of 105.57%. The business had revenue of $9.07 million for the quarter, compared to analysts’ expectations of $9.21 million. Analysts expect that Chromadex will post -0.35 EPS for the current year.
In other news, insider Kevin M. Farr acquired 6,725 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $3.99 per share, with a total value of $26,832.75. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen A. Block sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $3.52, for a total transaction of $35,200.00. The disclosure for this sale can be found here. Insiders have bought a total of 17,425 shares of company stock worth $65,726 in the last ninety days. Corporate insiders own 10.26% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc grew its stake in shares of Chromadex by 5.9% during the 3rd quarter. Vanguard Group Inc now owns 1,572,078 shares of the company’s stock worth $6,744,000 after purchasing an additional 88,125 shares during the period. Citadel Advisors LLC grew its stake in Chromadex by 160.5% in the 3rd quarter. Citadel Advisors LLC now owns 44,336 shares of the company’s stock valued at $190,000 after acquiring an additional 27,315 shares during the period. Rhumbline Advisers grew its stake in Chromadex by 53.3% in the 4th quarter. Rhumbline Advisers now owns 48,511 shares of the company’s stock valued at $166,000 after acquiring an additional 16,863 shares during the period. BlackRock Inc. grew its stake in Chromadex by 1.5% in the 3rd quarter. BlackRock Inc. now owns 1,913,433 shares of the company’s stock valued at $8,209,000 after acquiring an additional 28,817 shares during the period. Finally, Sargent Investment Group LLC acquired a new stake in Chromadex in the 4th quarter valued at $355,000. 17.24% of the stock is currently owned by institutional investors and hedge funds.
ChromaDex Corporation operates as a nutraceutical company. The company offers Nicotinamide riboside (NIAGEN), a novel form of vitamin B3 for enhancing nicotinamide adenine dinucleotide (NAD) level used for healthy aging; and Immulina, a spirulina extract and compound, which is used for improving human immune function.
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