Co-Diagnostics (NASDAQ:CODX) Cut to “Hold” at Maxim Group

Maxim Group cut shares of Co-Diagnostics (NASDAQ:CODX) from a buy rating to a hold rating in a research report released on Friday, Marketbeat reports.

CODX has been the subject of several other reports. HC Wainwright reiterated a “neutral” rating on shares of Co-Diagnostics in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Co-Diagnostics in a research note on Thursday, October 30th. Wall Street Zen raised shares of Co-Diagnostics to a “hold” rating in a research report on Saturday, January 3rd. Finally, D. Boral Capital restated a “buy” rating and issued a $90.00 target price on shares of Co-Diagnostics in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Co-Diagnostics currently has an average rating of “Hold” and a consensus target price of $55.00.

Co-Diagnostics Trading Down 0.1%

Shares of NASDAQ:CODX opened at $2.99 on Friday. Co-Diagnostics has a 12 month low of $2.36 and a 12 month high of $46.50. The company has a market capitalization of $6.07 million, a price-to-earnings ratio of -0.10 and a beta of 1.25. The firm’s 50-day moving average is $7.65 and its 200 day moving average is $9.48.

Co-Diagnostics (NASDAQ:CODX) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($4.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($5.70) by $0.90. The business had revenue of $0.15 million during the quarter, compared to the consensus estimate 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, equities analysts forecast that Co-Diagnostics will post -1.22 EPS for the current fiscal year.

Institutional Trading of Co-Diagnostics

A hedge fund recently raised its stake in Co-Diagnostics stock. Jane Street Group LLC grew its position in Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 166,254 shares of the company’s stock after buying an additional 126,105 shares during the period. Jane Street Group LLC owned 0.50% of Co-Diagnostics worth $47,000 at the end of the most recent quarter. 14.99% of the stock is owned by institutional investors and hedge funds.

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.