Co-Diagnostics, Inc. (CODX) Stock Analysis
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Co-Diagnostics, Inc. (CODX) trades at $1.21 with AI Score 17/100 (Grade F). Co-Diagnostics, Inc. is a molecular diagnostics company specializing in PCR-based testing solutions. Market cap: $1.35M, Sector: Healthcare.
Price as of Aug 22, 2026 · Last analyzed: Mar 15, 2026Analyst Coverage for CODX: CODX does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates CODX against Healthcare peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
CODX: 2/3 scored disciplines lean bearish. Dominant signal: Seth Klarman bearish.
How is this calculated? →Why this analysis is different
- A sector-relative MoonshotScore — five pillars (business quality, financial safety, valuation, growth durability, momentum) re-ranked nightly against the full universe of US-listed common stocks.
- An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
- Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.
Co-Diagnostics, Inc. (CODX) Healthcare & Pipeline Overview
Co-Diagnostics, Inc. develops, manufactures, and sells molecular diagnostic reagents and PCR testing platforms for infectious diseases and genetic analysis. The company's Co-Dx PCR platform aims to provide accessible point-of-care and at-home testing solutions, competing in the broader medical devices market with a focus on emerging diagnostics.
What Is the Investment Thesis for CODX?
Co-Diagnostics, Inc. presents a compelling investment case centered on its PCR-based diagnostic platform and expanding test menu. The company's growth is tied to the increasing demand for rapid and accessible diagnostic solutions, particularly in point-of-care settings. Key value drivers include expanding the range of available tests, securing regulatory approvals for new products, and penetrating new geographic markets. However, the company's negative profit margin of -6336.3% and reliance on COVID-19 testing revenue pose significant risks. Investors should monitor the company's ability to diversify its revenue streams and achieve profitability in the long term. The company's beta of 1.40 indicates higher volatility compared to the broader market.
Based on FMP financials and quantitative analysis
CODX Key Highlights
Co-Diagnostics operates in the molecular diagnostics market, which is projected to grow due to increasing demand for rapid and accurate testing.
- The company's Co-Dx PCR platform is designed for point-of-care and at-home settings, potentially increasing accessibility to diagnostic testing.
- Co-Diagnostics offers a range of diagnostic tests for infectious diseases, including COVID-19, influenza, and tuberculosis.
- The company has expanded its offerings to include tests for mosquito-borne diseases and agricultural applications.
- Co-Diagnostics' gross margin is 34.0%.
Who Are CODX's Competitors?
CODX is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ADGM Adagio Medical Holdings, Inc. | $0.63 | +0.33% | $14.1M | — |
| DWTX Dogwood Therapeutics, Inc. | $2.49 | +6.87% | $83.7M | 40 |
| NVNO enVVeno Medical Corporation | $10.39 | -0.86% | 31 | |
| CNVIF Conavi Medical Corp. | $0.14 | +6.84% | $12.1M | 66 |
| VPTDF VentriPoint Diagnostics Ltd. | $0.07 | -4.02% | $13.8M | 62 |
| LHDX Lucira Health, Inc. | $0.45 | +0.00% | $18.4M | 64 |
| PLSM PLSM | $2.96 | -1.66% | $19.3M | 60 |
| PYNKF Perimeter Medical Imaging AI, Inc. | $0.21 | -19.39% | $19.5M | 73 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are CODX's Key Strengths?
Proprietary Co-Dx PCR platform.
- Broad range of diagnostic tests.
- Point-of-care testing capabilities.
- Expansion into agricultural applications.
What Are CODX's Weaknesses?
Negative profit margin.
- Reliance on COVID-19 testing revenue.
- Limited brand recognition.
- OTC market listing.
What Could Drive CODX Stock Higher?
Expansion of the Co-Dx PCR platform to include new diagnostic tests.
- Regulatory approvals for new products in key markets.
- Strategic partnerships with healthcare providers and distributors.
- Increasing demand for point-of-care testing solutions.
- Expansion into agricultural applications.
What Are the Key Risks for CODX?
Financial-distress signal — its Altman Z-Score of -17.34 sits in the distress zone (elevated bankruptcy risk).
- Weak fundamentals — a Piotroski F-Score of 2/9 flags soft profitability, leverage or efficiency.
- Competition from larger diagnostic companies with greater resources.
- Regulatory changes and delays in obtaining approvals.
- Fluctuations in demand for COVID-19 testing.
- Economic downturns and reduced healthcare spending.
- Negative profit margin and need to achieve profitability.
What Are the Growth Opportunities for CODX?
- Expansion of Test Menu: Co-Diagnostics can expand its test menu to include additional infectious diseases and genetic conditions. The market for molecular diagnostics is growing, and a broader test menu would allow the company to address a larger portion of this market. The timeline for this expansion depends on regulatory approvals and development timelines, but could contribute significantly to revenue growth within the next 2-3 years.
- Geographic Expansion: Co-Diagnostics can expand its geographic reach beyond the United States. Emerging markets, in particular, offer significant growth opportunities due to increasing healthcare spending and unmet diagnostic needs. Establishing partnerships with local distributors and obtaining regulatory approvals in new markets are key steps for successful geographic expansion, with potential revenue impact within 3-5 years.
- Point-of-Care Testing: The increasing demand for point-of-care testing presents a significant growth opportunity for Co-Diagnostics. The company's Co-Dx PCR platform is designed for point-of-care settings, positioning it to capitalize on this trend. Securing partnerships with healthcare providers and developing user-friendly testing solutions are critical for success in this market, with potential for rapid adoption and revenue growth within 1-2 years.
- Agricultural Applications: Co-Diagnostics can leverage its molecular diagnostics expertise to expand into agricultural applications. The market for genetic testing in plants and animals is growing, driven by the need for improved crop yields and animal health. Developing specialized tests for agricultural applications and establishing partnerships with agricultural companies are key steps for entering this market, with potential for long-term revenue growth within 3-5 years.
- Partnerships and Collaborations: Strategic partnerships and collaborations can accelerate Co-Diagnostics' growth. Collaborating with other companies in the healthcare and diagnostics industries can provide access to new technologies, markets, and distribution channels. Identifying potential partners and establishing mutually beneficial agreements are crucial for leveraging this growth opportunity, with potential for both short-term and long-term revenue impact.
What Are CODX's Competitive Advantages?
- Proprietary PCR technology.
- Expanding test menu.
- Point-of-care testing platform.
- Strategic partnerships.
- Established distribution network.
What Does CODX Do?
Co-Diagnostics, Inc., founded in 2013 and headquartered in Salt Lake City, Utah, is a molecular diagnostics company focused on developing, manufacturing, and commercializing reagents used for diagnostic tests. These tests function through the detection and analysis of nucleic acid molecules. The company's core offering is the Co-Dx PCR platform, a polymerase chain reaction testing solution designed for use in point-of-care and at-home settings. This platform supports a range of diagnostic tests, including those for COVID-19, influenza, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and the zika virus. Beyond human diagnostics, Co-Diagnostics also provides multiplexed tests for identifying diseases carried by mosquitos, molecular tools for detecting infectious diseases, liquid biopsy applications for cancer screening, and solutions for agricultural applications. These agricultural applications include tests that identify genetic traits in plant and animal genomes. The company's strategic focus is on expanding the accessibility of PCR-based diagnostics through portable devices and a broad menu of tests.
What Products and Services Does CODX Offer?
- Develops molecular diagnostic reagents.
- Manufactures diagnostic tests for infectious diseases.
- Sells diagnostic tests in the United States and internationally.
- Offers the Co-Dx PCR platform for point-of-care and at-home testing.
- Provides tests for COVID-19, influenza, tuberculosis, and other diseases.
- Develops multiplexed tests for mosquito-borne diseases.
- Offers molecular tools for liquid biopsy and agricultural applications.
How Does CODX Make Money?
- Sales of diagnostic reagents and test kits.
- Licensing of the Co-Dx PCR platform.
- Partnerships with healthcare providers and distributors.
- Expansion into new markets and applications.
What Industry Does CODX Operate In?
Co-Diagnostics, Inc. operates within the medical devices industry, specifically focusing on molecular diagnostics. The industry is characterized by rapid technological advancements, increasing demand for point-of-care testing, and stringent regulatory requirements. Key market trends include the growing prevalence of infectious diseases, the rise of personalized medicine, and the increasing adoption of PCR-based diagnostics. Competitors include companies like ADGM (Adagio Medical, Inc.), AEMD (Aethlon Medical, Inc.), ALUR (Allurion Technologies Inc.), DWTX (Datawatch Corporation), and NVNO (enVVeno Medical Corp.), each with varying focuses within the broader medical device landscape.
Who Are CODX's Key Customers?
- Hospitals and clinics.
- Diagnostic laboratories.
- Point-of-care testing centers.
- Agricultural companies.
- Research institutions.
Company Profile
Co-Diagnostics, Inc. operates in the Biotechnology industry within the Healthcare sector. It is headquartered in Salt Lake City, US. The company is led by CEO Dwight Egan. CODX has traded publicly since 2017.
Forward Outlook
Wall Street analysts project Co-Diagnostics, Inc. revenue of about $552K for fiscal 2026, with EPS near $-12.15.
Financial Health
Co-Diagnostics, Inc.'s Piotroski F-Score is 2/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of -17.34 places it in the distress zone, a signal of elevated financial risk.
CODX Valuation & Market Position
With a $1.35M market cap, Co-Diagnostics, Inc. sits in the micro-cap segment of the market. Relative to its peer group, CODX's quantitative score of 17/100 is below the peer average of 50/100.
CODX Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Recent insider buying signals confidence, suggesting those closest to the company see value.
- The community is buzzing about potential new partnerships, hinting at broader market reach.
- Positive sentiment around expansion into new testing areas indicates growth opportunities.
- Overall, the community views the company as undervalued, setting the stage for potential upside.
Bear Case
- Recent insider selling, even if planned, can create negative market sentiment.
- The community expresses concerns about increased competition eroding market share.
- Bearish views highlight potential regulatory hurdles impacting future product approvals.
- Concerns exist within the community that the company's growth may be unsustainable.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
CODX Latest News
-
Why Forte Biosciences Shares Are Trading Higher By 39%; Here Are 20 Stocks Moving Premarket
benzinga · Jul 27, 2026
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'White House Adds Pandemic Response Staff as Ebola Cases Rise' - Bloomberg News
benzinga · Jul 1, 2026
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CDC Raises Its Response Level To Congo Ebola Outbreak To Level 1 Activation, Its Highest Level; Says Risk Of Ebola Spreading In The U.S. Remains Low
benzinga · Jun 26, 2026
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Earnings Scheduled For May 14, 2026
benzinga · May 14, 2026
CODX Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for CODX.
Price Targets
Wall Street price target analysis for CODX.
CODX MoonshotScore
What does this score mean?
The MoonshotScore rates CODX 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
Latest News
Why Forte Biosciences Shares Are Trading Higher By 39%; Here Are 20 Stocks Moving Premarket
'White House Adds Pandemic Response Staff as Ebola Cases Rise' - Bloomberg News
CDC Raises Its Response Level To Congo Ebola Outbreak To Level 1 Activation, Its Highest Level; Says Risk Of Ebola Spreading In The U.S. Remains Low
Earnings Scheduled For May 14, 2026
Leadership: Dwight H. Egan
CEO
Dwight H. Egan serves as the Chief Executive Officer of Co-Diagnostics, Inc. His background includes extensive experience in managing and growing technology-driven companies. He has a proven track record in strategic planning, product development, and market expansion. His leadership is focused on driving innovation and commercializing diagnostic solutions to address global healthcare needs. He is responsible for overseeing the company's operations, financial performance, and strategic direction.
Track Record: Under Dwight H. Egan's leadership, Co-Diagnostics, Inc. has focused on expanding its PCR-based diagnostic platform and test menu. Key milestones include the development and commercialization of COVID-19 diagnostic tests, expansion into agricultural applications, and strategic partnerships to broaden market reach. He has overseen the company's growth in the molecular diagnostics market, focusing on point-of-care solutions. The company's employee count is 132 under his management.
CODX OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that Co-Diagnostics, Inc. may not meet the minimum financial standards or reporting requirements of higher tiers like OTCQX or OTCQB. Companies in this tier often have limited trading volume and may not provide regular financial disclosures, increasing the risk for investors. Trading on the OTC Other tier differs significantly from trading on major exchanges like the NYSE or NASDAQ, where companies face stricter listing requirements and regulatory oversight. This tier is often populated by shell companies, bankrupt entities, or companies with questionable operations.
- OTC Tier: OTC Other
- Limited financial disclosure.
- Low trading volume and liquidity.
- Potential for price manipulation.
- Higher risk of fraud or mismanagement.
- Lack of regulatory oversight.
- Verify the company's financial statements and SEC filings.
- Research the background and experience of the company's management team.
- Assess the company's business model and competitive landscape.
- Evaluate the company's legal and regulatory compliance.
- Review the company's risk factors and potential liabilities.
- Consult with a financial advisor or investment professional.
- Understand the risks associated with investing in OTC stocks.
- Established business operations.
- Development of diagnostic products.
- Partnerships with healthcare providers.
- CEO leadership with relevant experience.
CODX Healthcare Stock FAQ
What does the AI Score mean for CODX?
CODX holds an AI Score of 17/100 (Grade: F). This is an educational research signal, not a buy or sell recommendation. Co-Diagnostics, Inc. is a molecular diagnostics company specializing in PCR-based testing solutions. The company develops, manufactures, and sells diagnostic reagents for various infectious …
What does Co-Diagnostics, Inc. do?
Co-Diagnostics, Inc. is a molecular diagnostics company that develops, manufactures, and sells reagents used for diagnostic tests. The company's primary focus is on PCR-based testing solutions, including the Co-Dx PCR platform, which is designed for point-of-care and at-home settings.
What are the main risks for CODX?
Co-Diagnostics, Inc. faces several risks, including competition from larger diagnostic companies, regulatory changes and delays in obtaining approvals, fluctuations in demand for COVID-19 testing, economic downturns, and the company's negative profit margin. The company's reliance on COVID-19 testing revenue poses a significant risk, as demand for these tests may decline as the pandemic subsides.
What are the key factors to evaluate for CODX?
Co-Diagnostics, Inc. (CODX) holds an AI score of 17/100 (low). presents a compelling investment case centered on its PCR-based diagnostic platform and expanding test menu. Not financial advice.
How frequently does CODX data refresh on this page?
CODX's price was last updated on Aug 22, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven CODX's recent stock price performance?
Co-Diagnostics, Inc. (CODX) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Proprietary Co-Dx PCR platform. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider CODX overvalued or undervalued right now?
Co-Diagnostics, Inc. (CODX) is loss-making, so its trailing P/E is negative (-0.1x) and not usable for valuation — lean on price-to-sales and cash flow in the Financials tab. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
How do I research CODX before investing?
Before investing in Co-Diagnostics, Inc. (CODX), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) analyst consensus ratings and price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding CODX to a portfolio?
Key strength of Co-Diagnostics, Inc. (CODX): Proprietary Co-Dx PCR platform. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Stock data pending update.
- OTC market listing increases risk.