Co-Diagnostics, Inc. (NASDAQ:CODX) Sees Significant Drop in Short Interest

Co-Diagnostics, Inc. (NASDAQ:CODX) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 193,700 shares, a drop of 16.7% from the February 13th total of 232,600 shares. Based on an average daily trading volume, of 207,200 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.6% of the shares of the stock are short sold.

Co-Diagnostics Stock Up 7.6 %

Shares of NASDAQ CODX opened at $0.47 on Thursday. Co-Diagnostics has a 12-month low of $0.43 and a 12-month high of $2.23. The firm’s 50-day simple moving average is $0.66 and its 200 day simple moving average is $0.93. The company has a market cap of $15.15 million, a price-to-earnings ratio of -0.34 and a beta of 1.29.

Hedge Funds Weigh In On Co-Diagnostics

A number of large investors have recently modified their holdings of CODX. Thompson Davis & CO. Inc. boosted its holdings in 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 acquiring an additional 15,700 shares during the last quarter. Jane Street Group LLC acquired a new stake in Co-Diagnostics during the 3rd quarter worth $55,000. Finally, Geode Capital Management LLC raised its position in shares of Co-Diagnostics by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 345,511 shares of the company’s stock valued at $259,000 after acquiring an additional 24,236 shares during the last quarter. 14.99% of the stock is currently owned by institutional investors and hedge funds.

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.