Co-Diagnostics (NASDAQ:CODX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Co-Diagnostics (NASDAQ:CODX) from a sell rating to a hold rating in a research report released on Saturday morning.

CODX has been the topic of a number of other research reports. Weiss Ratings cut Co-Diagnostics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Maxim Group upgraded Co-Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.50.

Co-Diagnostics Trading Up 0.8%

Co-Diagnostics stock opened at $1.22 on Friday. The stock has a market cap of $7.62 million, a P/E ratio of -0.12 and a beta of 2.88. The company has a fifty day simple moving average of $2.25 and a 200-day simple moving average of $2.60. Co-Diagnostics has a 12-month low of $0.94 and a 12-month high of $46.50.

Co-Diagnostics (NASDAQ:CODX) last issued its earnings results on Thursday, August 13th. The company reported ($1.46) EPS for the quarter, topping analysts’ consensus estimates of ($3.00) by $1.54. The firm had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.13 million. Co-Diagnostics had a negative net margin of 6,531.77% and a negative return on equity of 210.99%.

Hedge Funds Weigh In On Co-Diagnostics

A number of institutional investors and hedge funds have recently made changes to their positions in CODX. Jane Street Group LLC increased its holdings in shares of Co-Diagnostics by 314.1% in 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 holdings in Co-Diagnostics by 393.8% during the third quarter. Virtu Financial LLC now owns 126,524 shares of the company’s stock worth $44,000 after purchasing an additional 100,901 shares during the last quarter. Geode Capital Management LLC boosted its position in Co-Diagnostics by 40.4% during 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. Private Advisory Group LLC acquired a new stake in Co-Diagnostics in the second quarter valued at $122,000. Finally, Susquehanna International Group LLP acquired a new stake in Co-Diagnostics in the second quarter valued at $97,000. 14.99% of the stock is owned by institutional investors and hedge funds.

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.