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

Co-Diagnostics (NASDAQ:CODX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently commented on the company. Weiss Ratings restated 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. D. Boral Capital restated a “buy” rating and issued a $90.00 price objective on shares of Co-Diagnostics in a research report on Tuesday, October 28th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Co-Diagnostics in a report on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.00.

Co-Diagnostics Stock Performance

NASDAQ:CODX opened at $2.45 on Friday. The firm’s fifty day moving average is $4.42 and its two-hundred day moving average is $8.68. The firm has a market cap of $5.53 million, a price-to-earnings ratio of -0.08 and a beta of 1.33. Co-Diagnostics has a one year low of $2.20 and a one year high of $46.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC grew its stake in Co-Diagnostics by 393.8% in the 3rd quarter. Virtu Financial LLC now owns 126,524 shares of the company’s stock valued at $44,000 after acquiring an additional 100,901 shares during the period. Jane Street Group LLC raised its position in Co-Diagnostics by 314.1% during the second quarter. Jane Street Group LLC now owns 166,254 shares of the company’s stock worth $47,000 after acquiring an additional 126,105 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Co-Diagnostics by 40.4% during the fourth quarter. Geode Capital Management LLC now owns 449,148 shares of the company’s stock valued at $81,000 after purchasing an additional 129,158 shares in the last quarter. Hedge funds and other institutional investors own 14.99% of the company’s stock.

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.