Co-Diagnostics (NASDAQ:CODX) Stock Price Up 1% – Here’s What Happened

Shares of Co-Diagnostics, Inc. (NASDAQ:CODX) shot up 1% during mid-day trading on Wednesday . The company traded as high as $2.56 and last traded at $2.5160. 10,105 shares were traded during mid-day trading, a decline of 87% from the average session volume of 80,318 shares. The stock had previously closed at $2.49.

Analyst Upgrades and Downgrades

CODX has been the topic of several research reports. HC Wainwright reaffirmed a “neutral” rating on shares of Co-Diagnostics in a research report on Monday, November 24th. D. Boral Capital restated a “buy” rating and set a $90.00 price target on shares of Co-Diagnostics in a research report on Tuesday, October 28th. Wall Street Zen cut Co-Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, January 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Co-Diagnostics in a research report on Thursday, October 30th. Finally, Maxim Group cut shares of Co-Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.00.

Co-Diagnostics Trading Up 1.0%

The firm has a fifty day moving average of $4.74 and a 200 day moving average of $8.77. The company has a market capitalization of $5.68 million, a P/E ratio of -0.08 and a beta of 1.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CODX. Virtu Financial LLC grew its holdings in shares of 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 acquiring an additional 100,901 shares during the period. Jane Street Group LLC grew its stake 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 purchasing an additional 126,105 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Co-Diagnostics by 40.4% during the 4th 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 during the last quarter. Institutional investors own 14.99% of the company’s stock.

Co-Diagnostics Company Profile

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.