Wall Street Zen Upgrades Co-Diagnostics (NASDAQ:CODX) to “Hold”

Co-Diagnostics (NASDAQ:CODX) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other brokerages have also commented on CODX. D. Boral Capital reiterated a “buy” rating and set a $90.00 price objective on shares of Co-Diagnostics in a report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Co-Diagnostics in a research note on Thursday, October 30th. Maxim Group downgraded Co-Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, HC Wainwright restated a “neutral” rating on shares of Co-Diagnostics in a research note on Monday, November 24th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.00.

Co-Diagnostics Stock Up 0.2%

NASDAQ:CODX opened at $2.45 on Friday. Co-Diagnostics has a 52 week low of $2.20 and a 52 week high of $46.50. The firm has a 50 day moving average of $4.42 and a 200 day moving average of $8.68. The stock has a market capitalization of $5.53 million, a price-to-earnings ratio of -0.08 and a beta of 1.33.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CODX. Virtu Financial LLC raised its stake in shares of Co-Diagnostics by 393.8% in 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. Jane Street Group LLC increased its holdings in Co-Diagnostics by 314.1% in the 2nd quarter. Jane Street Group LLC now owns 166,254 shares of the company’s stock worth $47,000 after buying an additional 126,105 shares during the period. Finally, Geode Capital Management LLC raised its position in Co-Diagnostics by 40.4% during the 4th quarter. Geode Capital Management LLC now owns 449,148 shares of the company’s stock worth $81,000 after buying an additional 129,158 shares during the last quarter. 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.