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

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

Co-Diagnostics Stock Performance

NASDAQ CODX opened at $0.32 on Friday. The company has a market capitalization of $10.22 million, a price-to-earnings ratio of -0.23 and a beta of 1.29. The stock has a 50-day moving average of $0.61 and a 200 day moving average of $0.89. Co-Diagnostics has a one year low of $0.28 and a one year high of $2.23.

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

Hedge Funds Weigh In On Co-Diagnostics

Several institutional investors have recently added to or reduced their stakes in CODX. Jane Street Group LLC bought a new stake in Co-Diagnostics in the third quarter worth $55,000. Thompson Davis & CO. Inc. boosted its holdings in shares of Co-Diagnostics by 37.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 57,200 shares of the company’s stock valued at $43,000 after purchasing an additional 15,700 shares during the period. Finally, Geode Capital Management LLC grew its stake in Co-Diagnostics by 7.5% in the fourth 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. Hedge funds and other institutional investors own 14.99% of the company’s stock.

About Co-Diagnostics

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.