Co-Diagnostics (NASDAQ:CODX) Price Target Lowered to $1.00 at HC Wainwright

Co-Diagnostics (NASDAQ:CODX) had its target price lowered by HC Wainwright from $1.50 to $1.00 in a report issued on Friday morning,Benzinga reports. HC Wainwright currently has a neutral rating on the stock.

Co-Diagnostics Trading Down 18.3 %

Shares of NASDAQ CODX opened at $0.32 on Friday. The company has a market capitalization of $10.22 million, a P/E ratio of -0.23 and a beta of 1.29. Co-Diagnostics has a 12 month low of $0.28 and a 12 month high of $2.23. The stock has a 50 day moving average of $0.61 and a 200-day moving average of $0.89.

Co-Diagnostics (NASDAQ:CODX) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). The company had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.38 million. Co-Diagnostics had a negative net margin of 563.93% and a negative return on equity of 54.94%. Analysts predict that Co-Diagnostics will post -1.22 EPS for the current fiscal year.

Institutional Trading of Co-Diagnostics

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in shares of Co-Diagnostics in the third quarter valued at about $55,000. Thompson Davis & CO. Inc. raised its stake in Co-Diagnostics by 37.8% in the 4th quarter. Thompson Davis & CO. Inc. now owns 57,200 shares of the company’s stock worth $43,000 after purchasing an additional 15,700 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Co-Diagnostics by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock worth $259,000 after purchasing an additional 24,236 shares in the last quarter. 14.99% of the stock is owned by institutional investors and hedge funds.

Co-Diagnostics Company Profile

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.