Traders Buy High Volume of Co-Diagnostics Call Options (NASDAQ:CODX)

Co-Diagnostics, Inc. (NASDAQ:CODX) was the target of some unusual options trading activity on Monday. Investors acquired 5,416 call options on the stock. This represents an increase of 1,913% compared to the average daily volume of 269 call options.

Institutional Trading of Co-Diagnostics

An institutional investor recently raised its position in Co-Diagnostics stock. Jane Street Group LLC grew its holdings in shares of Co-Diagnostics, Inc. (NASDAQ:CODX) by 314.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 166,254 shares of the company’s stock after purchasing an additional 126,105 shares during the period. Jane Street Group LLC owned 0.50% of Co-Diagnostics worth $47,000 as of its most recent SEC filing. 14.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CODX has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Co-Diagnostics in a report on Wednesday, October 8th. D. Boral Capital reaffirmed a “buy” rating and issued a $3.00 price target on shares of Co-Diagnostics in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Co-Diagnostics presently has an average rating of “Moderate Buy” and an average price target of $2.00.

Co-Diagnostics Stock Down 54.8%

CODX opened at $0.57 on Wednesday. The firm’s fifty day moving average price is $0.38 and its 200 day moving average price is $0.32. Co-Diagnostics has a 12-month low of $0.23 and a 12-month high of $1.55.

Co-Diagnostics (NASDAQ:CODX) last issued its earnings results on Thursday, August 14th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. The company had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.30 million. Co-Diagnostics had a negative net margin of 3,588.33% and a negative return on equity of 69.49%. As a group, research analysts predict that Co-Diagnostics will post -1.22 EPS for the current year.

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.