Co-Diagnostics (NASDAQ:CODX) Upgraded at Maxim Group

Co-Diagnostics (NASDAQ:CODX) was upgraded by Maxim Group from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. Wall Street Zen upgraded Co-Diagnostics to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings cut 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Co-Diagnostics Trading Down 6.0%

Shares of CODX opened at $1.26 on Tuesday. The firm has a market capitalization of $4.65 million, a P/E ratio of -0.08 and a beta of 2.88. The stock’s fifty day simple moving average is $2.51 and its 200 day simple moving average is $2.64. Co-Diagnostics has a twelve month low of $1.26 and a twelve month high of $46.50.

Co-Diagnostics (NASDAQ:CODX) last issued its 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 return on equity of 210.99% and a negative net margin of 6,531.77%.The firm had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.13 million.

Institutional Trading of Co-Diagnostics

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of 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 acquiring an additional 129,158 shares in the last quarter. Jane Street Group LLC boosted its holdings in Co-Diagnostics by 314.1% in the second 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 during the last quarter. Virtu Financial LLC grew its stake in Co-Diagnostics by 393.8% during 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 in the last quarter. Finally, Private Advisory Group LLC acquired a new stake in Co-Diagnostics during the 2nd quarter valued at approximately $122,000. 14.99% of the stock is owned by hedge funds and other institutional investors.

About Co-Diagnostics

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.