Co-Diagnostics (NASDAQ:CODX) Issues Earnings Results

Co-Diagnostics (NASDAQ:CODX) released its quarterly earnings data on Tuesday. The company reported ($16.65) earnings per share for the quarter, missing the consensus estimate of ($3.90) by ($12.75), FiscalAI reports. Co-Diagnostics had a negative net margin of 6,347.34% and a negative return on equity of 70.26%. The company had revenue of $0.26 million during the quarter, compared to the consensus estimate of $0.13 million.

Here are the key takeaways from Co-Diagnostics’ conference call:

• CoSara joint venture received a CDSCO license to manufacture the Kodiak PCR Pro in India and is expanding distribution to Bangladesh, Pakistan, Nepal and Sri Lanka while exploring strategic alternatives (including a potential SPAC) to access capital.
• Co-Diagnostics is initiating TB clinical performance studies in India aligned with new WHO guidance (including tongue swab use) and expects commercialization of the TB test in India by Q3 2026.
• The CoMira joint venture in Saudi Arabia is progressing toward local manufacturing (lease being finalized) and aims to be the first domestic molecular diagnostics manufacturer in the kingdom, supporting regional MENA expansion.
• Financials show a decline in revenue to $0.6M in 2025, a $46.9M net loss (including an $18.9M impairment), cash down to $11.9M and ~$29M operating cash use, leaving the company dependent on additional financing and non-dilutive funding.
• Co-Diagnostics strengthened its IP portfolio with recent patent grants covering core components of the Kodiak PCR platform in Australia and Japan, which may support future commercialization but has uncertain near-term impact.

Co-Diagnostics Stock Performance

Co-Diagnostics stock traded up $0.16 during trading hours on Tuesday, hitting $1.86. 263,500 shares of the stock were exchanged, compared to its average volume of 3,521,331. The stock has a market capitalization of $3.91 million, a P/E ratio of -0.06 and a beta of 1.31. The business’s 50-day moving average is $2.46 and its two-hundred day moving average is $7.44. Co-Diagnostics has a 12 month low of $1.66 and a 12 month high of $46.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC increased its holdings in Co-Diagnostics by 314.1% during the 2nd quarter. Jane Street Group LLC now owns 166,254 shares of the company’s stock valued at $47,000 after purchasing an additional 126,105 shares in the last quarter. Virtu Financial LLC raised its position in Co-Diagnostics by 393.8% in the 3rd quarter. Virtu Financial LLC now owns 126,524 shares of the company’s stock valued at $44,000 after purchasing an additional 100,901 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Co-Diagnostics by 40.4% in the fourth quarter. Geode Capital Management LLC now owns 449,148 shares of the company’s stock worth $81,000 after purchasing an additional 129,158 shares in the last quarter. 14.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Maxim Group lowered Co-Diagnostics from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Wall Street Zen upgraded Co-Diagnostics from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Co-Diagnostics currently has a consensus rating of “Hold” and an average price target of $67.50.

Co-Diagnostics Company Profile

Co-Diagnostics, Inc is a molecular diagnostics company headquartered in Salt Lake City, Utah, known for its proprietary CoPrimer™ technology. Founded in 2016, the company focuses on the design, development and distribution of molecular diagnostic test kits for the detection of infectious diseases, genetic mutations and other health-relevant biomarkers. Its core platform leverages patented cooperative primers, which are engineered to enhance specificity, sensitivity and cost-effectiveness compared to conventional PCR-based assays.

Through its in-house manufacturing and global supply chain partnerships, Co-Diagnostics produces a range of real-time polymerase chain reaction (qPCR) kits, reagents and customized assay development services.