Co-Diagnostics (CODX) Rating Lowered to Sell at Zacks Investment Research

Co-Diagnostics (NASDAQ:CODX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Co-Diagnostics Inc. is a molecular diagnostics company. It develops, manufactures and markets a new, state-of-the-art diagnostics technology. The Company’s technology is utilized for tests which are designed using the detection and/or analysis of nucleic acid molecules. It also uses proprietary technology to design specific tests to locate genetic markers for use in industries other than infectious disease and license the use of those tests to specific customers. Co-Diagnostics Inc. is based in UT, United States. “

Several other brokerages have also recently commented on CODX. Maxim Group initiated coverage on shares of Co-Diagnostics in a report on Tuesday, April 9th. They set a “buy” rating and a $2.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $2.00 price target on shares of Co-Diagnostics in a research report on Thursday, May 16th.

Shares of CODX opened at $0.82 on Wednesday. Co-Diagnostics has a 12 month low of $0.78 and a 12 month high of $6.66.

Co-Diagnostics (NASDAQ:CODX) last announced its earnings results on Wednesday, May 15th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). Equities analysts forecast that Co-Diagnostics will post -0.09 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc raised its position in Co-Diagnostics by 18.7% during the third quarter. Vanguard Group Inc now owns 95,342 shares of the company’s stock worth $251,000 after acquiring an additional 15,027 shares in the last quarter. HighTower Advisors LLC raised its position in Co-Diagnostics by 22.3% during the first quarter. HighTower Advisors LLC now owns 115,002 shares of the company’s stock worth $122,000 after acquiring an additional 21,000 shares in the last quarter. Finally, Sabby Management LLC bought a new stake in Co-Diagnostics during the first quarter worth $820,000. 10.63% of the stock is currently owned by hedge funds and other institutional investors.

About Co-Diagnostics

Co-Diagnostics, Inc, a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. Co-Diagnostics, Inc was founded in 2013 and is headquartered in Salt Lake City, Utah.

Read More: Diluted Earnings Per Share

Get a free copy of the Zacks research report on Co-Diagnostics (CODX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Co-Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Co-Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.