Reviewing Co-Diagnostics (CODX) and Its Competitors

Co-Diagnostics (NASDAQ:CODX) is one of 844 publicly-traded companies in the “Biotechnology” industry, but how does it contrast to its peers? We will compare Co-Diagnostics to similar businesses based on the strength of its analyst recommendations, valuation, earnings, institutional ownership, dividends, profitability and risk.

Insider and Institutional Ownership

15.0% of Co-Diagnostics shares are owned by institutional investors. Comparatively, 47.9% of shares of all “Biotechnology” companies are owned by institutional investors. 1.7% of Co-Diagnostics shares are owned by company insiders. Comparatively, 12.9% of shares of all “Biotechnology” companies are owned by company insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock will outperform the market over the long term.

Risk and Volatility

Co-Diagnostics has a beta of 2.9, meaning that its stock price is 190% more volatile than the S&P 500. Comparatively, Co-Diagnostics’ peers have a beta of 1.12, meaning that their average stock price is 12% more volatile than the S&P 500.

Valuation & Earnings

This table compares Co-Diagnostics and its peers gross revenue, earnings per share and valuation.

	Gross Revenue	Net Income	Price/Earnings Ratio
Co-Diagnostics	$620,000.00	-$46.90 million	-0.04
Co-Diagnostics Competitors	$743.53 million	$13.62 million	-10.02

Co-Diagnostics’ peers have higher revenue and earnings than Co-Diagnostics. Co-Diagnostics is trading at a higher price-to-earnings ratio than its peers, indicating that it is currently more expensive than other companies in its industry.

Profitability

This table compares Co-Diagnostics and its peers’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Co-Diagnostics	-6,531.77%	-210.99%	-174.97%
Co-Diagnostics Competitors	-9,054.47%	-198.89%	-30.64%

Analyst Ratings

This is a summary of current ratings and recommmendations for Co-Diagnostics and its peers, as provided by MarketBeat.com.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Co-Diagnostics	1	1	0	1	2.33
Co-Diagnostics Competitors	9782	15052	45296	1571	2.54

Co-Diagnostics presently has a consensus target price of $45.00, suggesting a potential upside of 11,742.11%. As a group, “Biotechnology” companies have a potential upside of 97.49%. Given Co-Diagnostics’ higher possible upside, equities analysts clearly believe Co-Diagnostics is more favorable than its peers.

Summary

Co-Diagnostics peers beat Co-Diagnostics on 8 of the 13 factors compared.

About Co-Diagnostics

Co-Diagnostics, Inc., a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. The company offers Co-Dx PCR platform, a polymerase chain reaction (PCR) testing to patients in point-of-care and at-home setting. It also provides PCR diagnostic tests for COVID-19, influenza, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and the zika virus. In addition, the company offers three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications; tests that identify genetic traits in plant and animal genomes; and portable diagnostic device designed to bring PCR to patients in point-of-care and at-home settings. The company was incorporated in 2013 and is headquartered in Salt Lake City, Utah.