Co-Diagnostics, Inc. (NASDAQ:CODX) Short Interest Up 11.8% in March

Co-Diagnostics, Inc. (NASDAQ:CODXGet Free Report) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 381,500 shares, an increase of 11.8% from the February 29th total of 341,300 shares. Based on an average daily volume of 90,100 shares, the short-interest ratio is presently 4.2 days.

Institutional Trading of Co-Diagnostics

Several large investors have recently made changes to their positions in CODX. Bank of New York Mellon Corp boosted its position in shares of Co-Diagnostics by 22.6% during the 1st quarter. Bank of New York Mellon Corp now owns 228,232 shares of the company’s stock worth $1,411,000 after acquiring an additional 42,024 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Co-Diagnostics by 23.8% during the 1st quarter. American Century Companies Inc. now owns 79,152 shares of the company’s stock worth $489,000 after acquiring an additional 15,238 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Co-Diagnostics by 1,277.7% during the 1st quarter. Acadian Asset Management LLC now owns 78,212 shares of the company’s stock worth $482,000 after acquiring an additional 72,535 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Co-Diagnostics by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,871,914 shares of the company’s stock worth $11,568,000 after acquiring an additional 76,857 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Co-Diagnostics by 99.0% in the 1st quarter. Renaissance Technologies LLC now owns 586,052 shares of the company’s stock valued at $3,622,000 after purchasing an additional 291,552 shares during the last quarter. Institutional investors and hedge funds own 14.99% of the company’s stock.

Co-Diagnostics Stock Down 1.8 %

Shares of NASDAQ:CODX opened at $1.09 on Wednesday. The company’s 50 day moving average price is $1.16 and its two-hundred day moving average price is $1.18. Co-Diagnostics has a 12-month low of $0.98 and a 12-month high of $1.89. The firm has a market cap of $34.07 million, a PE ratio of -0.90 and a beta of -0.68.

Wall Street Analyst Weigh In

Separately, HC Wainwright decreased their target price on shares of Co-Diagnostics from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Friday, March 15th.

Get Our Latest Report on CODX

About Co-Diagnostics

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Co-Diagnostics, Inc, a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. It offers polymerase chain reaction (PCR) diagnostic tests for COVID-19, influenza, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and the zika virus; three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; and molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications.

Further Reading

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