Co-Diagnostics, Inc. (NASDAQ:CODX) Short Interest Up 11.8% in March

Co-Diagnostics, Inc. (NASDAQ:CODX) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 381,500 shares, an increase of 11.8% from the February 29th total of 341,300 shares. Based on an average daily volume of 90,100 shares, the days-to-cover ratio is currently 4.2 days.

Analysts Set New Price Targets

Separately, HC Wainwright cut their price objective on shares of Co-Diagnostics from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Friday, March 15th.

Hedge Funds Weigh In On Co-Diagnostics

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Co-Diagnostics by 4.8% during the first quarter. Royal Bank of Canada now owns 79,882 shares of the company’s stock worth $493,000 after buying an additional 3,654 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Co-Diagnostics by 8.0% in the second quarter. Northern Trust Corp now owns 50,884 shares of the company’s stock valued at $286,000 after purchasing an additional 3,784 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Co-Diagnostics by 218.8% in the first quarter. Bank of America Corp DE now owns 7,220 shares of the company’s stock valued at $45,000 after purchasing an additional 4,955 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Co-Diagnostics in the first quarter valued at $46,000. Finally, American Century Companies Inc. increased its holdings in shares of Co-Diagnostics by 3.9% in the first quarter. American Century Companies Inc. now owns 221,199 shares of the company’s stock valued at $327,000 after purchasing an additional 8,298 shares during the last quarter. 14.99% of the stock is currently owned by institutional investors and hedge funds.

Co-Diagnostics Stock Performance

Shares of CODX opened at $1.12 on Monday. Co-Diagnostics has a 1-year low of $0.98 and a 1-year high of $1.89. The company’s fifty day simple moving average is $1.17 and its 200 day simple moving average is $1.18.

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. It offers polymerase chain reaction (PCR) diagnostic tests for COVID-19, influenza, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and the zika virus; three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; and molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications.