Co-Diagnostics (NASDAQ:CODX) Shares Down 10.7% – Here’s Why
by Amy Steele · The Cerbat GemShares of Co-Diagnostics, Inc. (NASDAQ:CODX – Get Free Report) were down 10.7% during mid-day trading on Monday . The stock traded as low as $2.40 and last traded at $2.50. Approximately 191,475 shares were traded during trading, a decline of 24% from the average daily volume of 251,042 shares. The stock had previously closed at $2.80.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on CODX shares. Wall Street Zen upgraded Co-Diagnostics from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. HC Wainwright reissued a “neutral” rating on shares of Co-Diagnostics in a research report on Monday, November 24th. Finally, Maxim Group lowered Co-Diagnostics from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Co-Diagnostics currently has a consensus rating of “Hold” and a consensus target price of $55.00.
Read Our Latest Research Report on CODX
Co-Diagnostics Stock Up 0.9%
The firm’s 50-day moving average price is $2.86 and its 200-day moving average price is $7.96. The company has a market cap of $4.84 million, a P/E ratio of -0.08 and a beta of 1.31.
Institutional Investors Weigh In On Co-Diagnostics
Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Co-Diagnostics by 40.4% in the fourth quarter. Geode Capital Management LLC now owns 449,148 shares of the company’s stock worth $81,000 after acquiring an additional 129,158 shares during the period. Jane Street Group LLC raised 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, Virtu Financial LLC lifted its holdings in Co-Diagnostics by 393.8% during the 3rd 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. Hedge funds and other 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.