Cardio Diagnostics (NASDAQ:CDIO) Trading 79% Higher – Still a Buy?

Shares of Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) rose 79% during trading on Wednesday . The company traded as high as $2.85 and last traded at $2.13. Approximately 56,536,338 shares were traded during mid-day trading, an increase of 43,101% from the average daily volume of 130,869 shares. The stock had previously closed at $1.19.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Cardio Diagnostics in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Cardio Diagnostics Stock Up 79.0%

The company has a market capitalization of $3.90 million, a P/E ratio of -0.57 and a beta of 2.92. The company has a 50-day moving average of $2.23 and a two-hundred day moving average of $3.24.

Institutional Investors Weigh In On Cardio Diagnostics

An institutional investor recently raised its position in Cardio Diagnostics stock. DRW Securities LLC raised its holdings in shares of Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) by 122.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,463 shares of the company’s stock after purchasing an additional 22,298 shares during the period. DRW Securities LLC owned 2.21% of Cardio Diagnostics worth $110,000 as of its most recent SEC filing. Institutional investors own 8.06% of the company’s stock.

Cardio Diagnostics Company Profile

Cardio Diagnostics Holdings, Inc develops and commercializes epigenetics-based clinical tests for cardiovascular disease. It offers Epi+Gen CHD, a three-year symptomatic coronary heart disease (CHD) risk assessment test targeting CHD events, including heart attacks; and PrecisionCHD, an integrated epigenetic-genetic blood test for the early detection of coronary heart disease. Cardio Diagnostics Holdings, Inc was founded in 2017 and is headquartered in Chicago, Illinois.