Co-Diagnostics (NASDAQ:CODX) Stock Rating Lowered by Wall Street Zen

Co-Diagnostics (NASDAQ:CODX) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other research analysts have also weighed in on the stock. Maxim Group reissued a “hold” rating on shares of Co-Diagnostics in a research note on Friday. D. Boral Capital reaffirmed a “buy” rating and issued a $90.00 price target on shares of Co-Diagnostics in a report on Tuesday, October 28th. HC Wainwright reiterated a “neutral” rating on shares of Co-Diagnostics in a research report on Monday, November 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Co-Diagnostics in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Co-Diagnostics presently has an average rating of “Hold” and an average target price of $55.00.

Co-Diagnostics Stock Down 0.1%

Shares of CODX opened at $2.99 on Friday. Co-Diagnostics has a 52-week low of $2.36 and a 52-week high of $46.50. The stock has a market cap of $6.07 million, a PE ratio of -0.10 and a beta of 1.25. The firm’s fifty day moving average is $7.65 and its two-hundred day moving average is $9.46.

Co-Diagnostics (NASDAQ:CODX) last issued its earnings results on Thursday, November 13th. The company reported ($4.80) EPS for the quarter, beating analysts’ consensus estimates of ($5.70) by $0.90. The business had revenue of $0.15 million during the quarter, compared to analysts’ expectations of $0.30 million. Co-Diagnostics had a negative net margin of 6,347.34% and a negative return on equity of 70.26%. As a group, research analysts anticipate that Co-Diagnostics will post -1.22 earnings per share for the current year.

Institutional Trading of Co-Diagnostics

An institutional investor recently raised its position in Co-Diagnostics stock. Virtu Financial LLC increased its stake in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) by 393.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,524 shares of the company’s stock after purchasing an additional 100,901 shares during the quarter. Virtu Financial LLC owned 0.21% of Co-Diagnostics worth $44,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 14.99% of the company’s stock.

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.