Co-Diagnostics (CODX) Stock Rating Reaffirmed by Maxim Group

Maxim Group reiterated their buy rating on shares of Co-Diagnostics (NASDAQ:CODX) in a research report report published on Friday, AnalystRatings.com reports. They currently have a $2.00 price target on the stock.

“Co-Diagnostics (CDI) reported 1Q19 with a net loss of ($1.4M) and a cash balance of $5.4M. We estimate that the company has cash runway into late 2019, though this could be extended depending on uptake of CDI’s CoPrimer technology.”,” Maxim Group’s analyst wrote.

Separately, HC Wainwright initiated coverage on shares of Co-Diagnostics in a research note on Monday, March 11th. They set a buy rating and a $2.00 target price on the stock.

CODX opened at $0.88 on Friday. Co-Diagnostics has a fifty-two week low of $0.82 and a fifty-two week high of $6.66.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its stake in shares of Co-Diagnostics by 18.7% during the 3rd quarter. Vanguard Group Inc now owns 95,342 shares of the company’s stock valued at $251,000 after buying an additional 15,027 shares in the last quarter. Sabby Management LLC purchased a new position in shares of Co-Diagnostics during the 1st quarter valued at $820,000. Finally, HighTower Advisors LLC lifted its stake in shares of Co-Diagnostics by 22.3% during the 1st quarter. HighTower Advisors LLC now owns 115,002 shares of the company’s stock valued at $122,000 after buying an additional 21,000 shares in the last quarter. Institutional investors own 1.43% of the company’s stock.

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.

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