Co-Diagnostics (NASDAQ:CODX) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Co-Diagnostics (NASDAQ:CODX) from a sell rating to a hold rating in a research report released on Saturday morning.

A number of other research firms have also weighed in on CODX. Maxim Group lowered shares of Co-Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. HC Wainwright reiterated a “neutral” rating on shares of Co-Diagnostics in a research report on Monday, November 24th. D. Boral Capital reissued a “buy” rating and set a $90.00 target price on shares of Co-Diagnostics in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed 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 Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.00.

Co-Diagnostics Stock Performance

Shares of Co-Diagnostics stock 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 company’s 50 day moving average price is $4.42 and its 200-day moving average price is $8.69. 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 Investors Weigh In On Co-Diagnostics

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC raised its holdings in 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 in the last quarter. Jane Street Group LLC boosted its holdings in shares of Co-Diagnostics by 314.1% during the 2nd quarter. Jane Street Group LLC now owns 166,254 shares of the company’s stock valued at $47,000 after buying an additional 126,105 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Co-Diagnostics by 40.4% in 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 period. 14.99% of the stock is currently owned by institutional investors.

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.