Co-Diagnostics (NASDAQ:CODX – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Several other brokerages have also issued reports on CODX. Maxim Group raised Co-Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Weiss Ratings downgraded Co-Diagnostics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.50.
Check Out Our Latest Stock Analysis on CODX
Co-Diagnostics Price Performance
Co-Diagnostics (NASDAQ:CODX – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.00) by $1.54. Co-Diagnostics had a negative net margin of 6,531.77% and a negative return on equity of 210.99%. The firm had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.13 million.
Institutional Investors Weigh In On Co-Diagnostics
Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its stake 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 acquiring an additional 126,105 shares during the last quarter. Virtu Financial LLC grew its stake in shares of 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. Geode Capital Management LLC grew its stake in shares of Co-Diagnostics by 40.4% in the 4th quarter. Geode Capital Management LLC now owns 449,148 shares of the company’s stock valued at $81,000 after purchasing an additional 129,158 shares during the last quarter. Private Advisory Group LLC acquired a new position in shares of Co-Diagnostics in the second quarter valued at approximately $122,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Co-Diagnostics in the second quarter valued at approximately $97,000. 14.99% of the stock is owned by hedge funds and other institutional investors.
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.
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