Co-Diagnostics (NASDAQ:CODX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $10.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential downside of 37.34% from the stock’s current price.

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. “

Separately, HC Wainwright lifted their price target on shares of Co-Diagnostics from $2.00 to $4.00 and gave the stock a “buy” rating in a research note on Monday.

Co-Diagnostics stock traded up $7.06 during midday trading on Thursday, hitting $15.96. 58,348,485 shares of the stock were exchanged, compared to its average volume of 11,026,723. Co-Diagnostics has a 1 year low of $0.69 and a 1 year high of $19.67. The company has a 50 day moving average price of $2.56 and a two-hundred day moving average price of $1.41.

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC grew its holdings in Co-Diagnostics by 18.9% during the 4th quarter. Barclays PLC now owns 86,770 shares of the company’s stock worth $78,000 after acquiring an additional 13,820 shares in the last quarter. Virtu Financial LLC acquired a new position in Co-Diagnostics during the 4th quarter worth $34,000. Finally, Vanguard Group Inc. grew its holdings in Co-Diagnostics by 142.1% during the 2nd quarter. Vanguard Group Inc. now owns 340,175 shares of the company’s stock worth $281,000 after acquiring an additional 199,685 shares in the last quarter. 4.27% of the stock is owned by institutional investors.

Co-Diagnostics Company Profile

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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