Co-Diagnostics, Inc. (CODX)
Co-Diagnostics, Inc. is a molecular diagnostics company specializing in PCR-based testing solutions. They develop, manufacture, and sell reagents for diagnostic tests used to detect and analyze nucleic acid molecules globally.
Company Overview
Co-Diagnostics offers innovative PCR-based diagnostic solutions, including the Co-Dx PCR platform, targeting infectious diseases and genetic analysis, positioning them for growth in point-of-care and at-home testing markets despite current profitability challenges and a negative profit margin of -6336.3%.
Investment Thesis
Co-Diagnostics presents a compelling investment opportunity based on its innovative PCR-based diagnostic solutions and strategic focus on decentralized testing. The company's Co-Dx PCR platform and expanding menu of diagnostic tests target high-growth markets, including point-of-care and at-home testing. While the company currently faces profitability challenges, as reflected in its negative profit margin of -6336.3% and negative P/E ratio of -0.09, successful execution of its growth strategies could drive significant revenue growth and improved financial performance. Key value drivers include the expansion of its product portfolio, strategic partnerships to broaden market reach, and the increasing adoption of decentralized diagnostics. Upcoming catalysts include the launch of new diagnostic tests and the expansion of its distribution network. Investors should consider the company's high beta of 1.32, indicating higher volatility compared to the market. The company's gross margin of 34.0% shows potential for profitability if revenue increases substantially.
Key Highlights
- Co-Diagnostics operates in the molecular diagnostics market, focusing on PCR-based testing solutions.
- The company's Co-Dx PCR platform is designed for point-of-care and at-home settings, addressing the growing demand for decentralized diagnostics.
- Co-Diagnostics offers a diversified portfolio of PCR diagnostic tests for various infectious diseases, including COVID-19, influenza, and tuberculosis.
- The company's gross margin is 34.0%.
- The company has a negative profit margin of -6336.3%.
Competitors
Strengths
- Proprietary PCR technology platform
- Diversified product portfolio targeting multiple diseases
- Focus on point-of-care and at-home testing
- Established distribution network
Weaknesses
- Negative profit margin of -6336.3%
- Dependence on COVID-19 testing revenue
- Limited financial resources compared to larger competitors
- High beta of 1.32 indicating higher volatility
Catalysts
- Upcoming: Launch of new diagnostic tests for infectious diseases.
- Ongoing: Expansion of the Co-Dx PCR platform into new markets.
- Ongoing: Strategic partnerships with healthcare providers and distributors.
- Upcoming: Regulatory approvals for new diagnostic products.
Risks
- Potential: Intense competition in the molecular diagnostics market.
- Ongoing: Dependence on COVID-19 testing revenue.
- Potential: Regulatory hurdles and changing reimbursement policies.
- Potential: Technological obsolescence.
- Ongoing: Negative profit margin impacting financial stability.
Growth Opportunities
- Expansion of Point-of-Care Testing: Co-Diagnostics can capitalize on the growing demand for point-of-care testing by expanding the availability and capabilities of its Co-Dx PCR platform. The global point-of-care diagnostics market is projected to reach $40 billion by 2027. By securing partnerships with healthcare providers and expanding its distribution network, Co-Diagnostics can increase its market share in this rapidly growing segment. A key competitive advantage lies in the platform's ease of use and rapid turnaround time.
- Development of New Diagnostic Tests: Co-Diagnostics can drive revenue growth by developing and commercializing new PCR diagnostic tests for a wider range of infectious diseases and genetic conditions. The global infectious disease diagnostics market is expected to reach $25 billion by 2028. By leveraging its expertise in PCR technology and expanding its R&D efforts, Co-Diagnostics can introduce innovative tests that address unmet needs in the market. This includes tests for emerging pathogens and multiplex assays that can detect multiple targets simultaneously.
- Strategic Partnerships and Collaborations: Co-Diagnostics can accelerate its growth by forming strategic partnerships and collaborations with other companies in the diagnostics industry. This includes partnerships with diagnostic test manufacturers, distributors, and healthcare providers. By leveraging the expertise and resources of its partners, Co-Diagnostics can expand its market reach and accelerate the commercialization of its products. These partnerships can also provide access to new technologies and markets.
- Expansion into International Markets: Co-Diagnostics has the opportunity to expand its presence in international markets, particularly in developing countries where access to diagnostic testing is limited. The global diagnostics market is growing rapidly in these regions, driven by increasing healthcare spending and the growing prevalence of infectious diseases. By establishing a presence in these markets and adapting its products to local needs, Co-Diagnostics can tap into a significant growth opportunity. This expansion requires navigating regulatory hurdles and establishing distribution networks.
- Penetration of the Agricultural Diagnostics Market: Co-Diagnostics can leverage its PCR technology to penetrate the agricultural diagnostics market, offering solutions for detecting plant and animal diseases. The agricultural diagnostics market is growing rapidly, driven by the need to improve crop yields and prevent the spread of animal diseases. By developing and commercializing PCR-based tests for agricultural applications, Co-Diagnostics can diversify its revenue streams and tap into a new market segment. This includes tests for detecting plant pathogens, identifying genetic traits in crops, and diagnosing animal diseases.
Opportunities
- Expansion into new geographic markets
- Development of new diagnostic tests for emerging diseases
- Strategic partnerships with healthcare providers and distributors
- Penetration of the agricultural diagnostics market
Threats
- Intense competition from established diagnostic companies
- Regulatory hurdles and changing reimbursement policies
- Decline in COVID-19 testing demand
- Potential for technological obsolescence
Competitive Advantages
- Proprietary PCR technology
- Co-Dx PCR platform designed for decentralized testing
- Diversified product portfolio targeting multiple market segments
- Established distribution network in key markets
About
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 for diagnostic tests. These tests utilize polymerase chain reaction (PCR) technology to detect and analyze nucleic acid molecules, enabling the identification of various diseases and genetic traits. The company's core offering is the Co-Dx PCR platform, designed for use in point-of-care and at-home settings, aiming to decentralize diagnostic testing. Their product portfolio includes PCR diagnostic tests for a range of infectious diseases, such as COVID-19, influenza, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and Zika virus. Beyond human diagnostics, Co-Diagnostics also provides multiplexed tests for mosquito-borne diseases, molecular tools for infectious disease detection, liquid biopsy applications for cancer screening, and agricultural applications for identifying genetic traits in plants and animals. This diversified approach aims to capture multiple market segments within the broader diagnostics industry. The company's portable diagnostic device is designed to further expand access to PCR testing, bringing advanced diagnostic capabilities directly to patients and healthcare providers in decentralized settings. Despite a challenging financial landscape with a negative profit margin of -6336.3%, Co-Diagnostics continues to innovate and expand its product offerings to address unmet needs in the global diagnostics market.
What They Do
- Develops PCR-based diagnostic tests.
- Manufactures reagents for diagnostic tests.
- Sells diagnostic tests and reagents globally.
- Offers the Co-Dx PCR platform for point-of-care and at-home testing.
- Provides tests for infectious diseases like COVID-19, influenza, and tuberculosis.
- Offers molecular tools for liquid biopsy and agricultural applications.
- Develops multiplexed tests for mosquito-borne diseases.
Business Model
- Develops and manufactures PCR diagnostic tests and reagents.
- Sells products directly to healthcare providers and distributors.
- Generates revenue from the sale of diagnostic tests and reagents.
- Focuses on point-of-care and at-home testing markets.
Industry Context
Co-Diagnostics operates within the rapidly evolving molecular diagnostics industry, driven by increasing demand for accurate and rapid diagnostic testing. The global molecular diagnostics market is projected to reach billions of dollars by 2026, fueled by advancements in PCR technology and the growing prevalence of infectious diseases. The competitive landscape includes established players and emerging companies focused on developing innovative diagnostic solutions. Co-Diagnostics differentiates itself through its focus on decentralized testing and its Co-Dx PCR platform. Competitors include companies like ADGM (Adagio Medical), AEMD (Aethlon Medical), ALUR (Allurion Technologies), DWTX (Datawatch Corporation), and NVNO (Envivo Acquisition Corp).
Key Customers
- Hospitals and clinics
- Diagnostic laboratories
- Research institutions
- Point-of-care testing facilities
- Agricultural testing facilities
Financials
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $145,380 | -$6M | $-4.66 |
| Q2 2025 | $162,910 | -$8M | $-7.00 |
| Q1 2025 | $50,277 | -$8M | $-7.05 |
| Q4 2024 | $149,325 | -$11M | $-10.01 |
Source: Company filings
Chart & Info
Price Chart
Co-Diagnostics, Inc. (CODX) stock price: $2.43 (+0.00, +0.00%)
Why Bull
- •Co-Diagnostics has been expanding its product line beyond just COVID-19 tests, showing they're adapting to changing market needs.
- •Insiders seem to be holding their positions, which can signal confidence in the company's long-term prospects.
- •The community is buzzing about potential partnerships in new diagnostic areas, suggesting future growth opportunities.
- •There's a general feeling that the market might be undervaluing Co-Diagnostics' diversified product portfolio.
Why Bear
- •The overall demand for COVID-19 testing is decreasing, which could significantly impact Co-Diagnostics' revenue.
- •Community sentiment reveals concerns about increased competition in the diagnostic testing market.
- •Recent market perception suggests investors are skeptical about Co-Diagnostics' ability to successfully transition beyond COVID-19 testing.
- •There's worry within the community that the company's expansion into new areas might be too slow to offset declining COVID-19 related revenue.
Latest News
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Technical Analysis
Rationale
AI-generated technical analysis for CODX including trend direction, momentum, and pattern recognition.
What to Watch
Key support and resistance levels, volume signals, and upcoming events.
Risk Management
Position sizing, stop-loss levels, and risk-reward assessment.
Community
Discussion
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Sentiment
Community sentiment and discussion activity for CODX.
Make a Prediction
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Current price: $2.43
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.
Insider Flow (30d)
MoonshotScore
Score Factors
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Revenue Growth 2/100
Revenue declined -42.5% YoY, signaling shrinking demand or market headwinds.
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Gross Margin 6/100
Gross margin of 34.0% is acceptable but leaves limited room for R&D and marketing investment.
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Operating Leverage 4/100
Limited operating leverage due to slower revenue growth, keeping profit scaling constrained.
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Cash Runway 5/100
Cash position data is currently unavailable for this company.
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R&D Intensity 5/100
R&D spending data is currently unavailable for this company.
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Insider Activity 6/100
No significant insider buying or selling recently, which is neutral for the stock outlook.
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Short Interest 5/100
Float and volume data unavailable for liquidity analysis.
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Price Momentum 0/100
No bullish technical signals detected. The stock lacks upward price momentum currently.
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News Sentiment 5/100
No sentiment data available
What does this score mean?
The MoonshotScore rates CODX's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Competitors & Peers
Latest News
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Frequently Asked Questions
What does Co-Diagnostics, Inc. do?
Co-Diagnostics, Inc. is a molecular diagnostics company that develops, manufactures, and sells reagents for diagnostic tests based on PCR technology. Their primary focus is on creating solutions for the detection and analysis of nucleic acid molecules, enabling the identification of various diseases and genetic traits. The company's Co-Dx PCR platform is designed for point-of-care and at-home settings, offering a decentralized approach to diagnostic testing. They offer tests for a range of infectious diseases, including COVID-19, influenza, tuberculosis, and mosquito-borne illnesses, as well as molecular tools for liquid biopsy and agricultural applications.
Is CODX stock a good buy?
CODX stock presents a mixed investment picture. The company's innovative PCR-based diagnostic solutions and focus on decentralized testing offer growth potential. However, the company's negative profit margin of -6336.3% and negative P/E ratio of -0.09 raise concerns about its current financial performance. Investors should carefully consider the company's growth catalysts, such as the launch of new diagnostic tests and expansion into new markets, as well as the risks, including intense competition and dependence on COVID-19 testing revenue. A high beta of 1.32 suggests higher volatility compared to the market.
What are the main risks for CODX?
The main risks for CODX include intense competition in the molecular diagnostics market, which could limit its ability to gain market share. The company's dependence on COVID-19 testing revenue poses a risk as demand for these tests declines. Regulatory hurdles and changing reimbursement policies could also impact the company's ability to commercialize its products and generate revenue. Additionally, the rapid pace of technological innovation in the diagnostics industry creates a risk of technological obsolescence. The company's negative profit margin also poses a significant risk to its financial stability.
Is CODX a good stock to buy?
Whether CODX is a good investment depends on your financial goals, risk tolerance, and investment horizon. Key factors to evaluate include the company's revenue growth trajectory, profit margins, debt-to-equity ratio, competitive moat, and valuation multiples (P/E, P/S, EV/EBITDA) relative to industry peers. Our AI-generated Investment Thesis and SWOT analysis on this page provide a data-driven starting point. Always do your own research and consider consulting a financial advisor before making investment decisions.
What is the CODX MoonshotScore?
The MoonshotScore for CODX is an AI-powered rating from 0 to 100 that evaluates a stock across four dimensions: growth potential (revenue and earnings trajectory), financial health (balance sheet strength, cash flow), market momentum (price trends, volume patterns, institutional flows), and risk factors (volatility, debt levels, sector headwinds). Scores above 70 indicate strong potential, 50-70 moderate, and below 50 suggests caution. The score is recalculated daily using the latest financial data and market signals.
How often is CODX data updated?
CODX stock prices are updated in real-time during U.S. market hours (9:30 AM - 4:00 PM ET, Monday through Friday). After-hours and pre-market prices are also tracked. Company fundamentals (earnings, revenue, balance sheet) are refreshed when new quarterly or annual reports are filed. Analyst ratings, price targets, and AI-generated insights are updated daily. Breaking news related to CODX is aggregated continuously from premium financial news sources throughout the day.
What are the growth catalysts for CODX?
Growth catalysts for Co-Diagnostics, Inc. (CODX) can include several categories: product catalysts (new launches, FDA approvals, patent grants), financial catalysts (earnings beats, margin expansion, share buybacks), strategic catalysts (acquisitions, partnerships, market expansion into new regions), and macro catalysts (favorable regulation, industry tailwinds, secular growth trends). Our AI analyzes Co-Diagnostics, Inc.'s specific catalysts using earnings transcripts, SEC filings, and news sentiment to identify the most impactful near-term and long-term drivers.
Who are CODX's main competitors?
Co-Diagnostics, Inc. (CODX) competes with companies in its industry that target similar customers, markets, or product categories. Competitor analysis involves comparing key metrics: market share, revenue growth rates, profit margins, R&D spending, and valuation multiples. Understanding competitive positioning helps investors assess whether CODX has a sustainable competitive advantage (moat) through brand strength, network effects, cost leadership, or switching costs. Our Competitors section provides a side-by-side comparison with relevant peers.
What do analysts say about CODX?
Wall Street analyst coverage for CODX includes consensus ratings (buy, hold, or sell), 12-month price targets, and earnings estimates. Analyst opinions are aggregated from major investment banks and research firms. Key metrics to watch include the consensus price target (average, high, and low estimates), the number of analysts covering the stock, any recent rating changes (upgrades or downgrades), and how actual earnings compare to analyst estimates (beat or miss history). Our platform aggregates these from multiple data providers for a comprehensive view.
What is CODX's market cap?
Market capitalization (market cap) for CODX is calculated by multiplying the current share price by the total number of outstanding shares. It represents the market's total valuation of the company. Stocks are typically categorized as mega-cap ($200B+), large-cap ($10B-$200B), mid-cap ($2B-$10B), small-cap ($300M-$2B), or micro-cap (under $300M). Market cap influences index inclusion, institutional ownership eligibility, and risk profile. Our Key Statistics section shows CODX's current market cap alongside enterprise value and other valuation metrics.
How has CODX stock performed recently?
CODX's recent stock performance can be evaluated across multiple timeframes: daily price changes, week-over-week momentum, monthly trends, and year-to-date returns. Important performance indicators include the stock's 52-week high and low, moving averages (50-day and 200-day SMA), relative strength index (RSI), and volume trends. Comparing CODX's performance against its sector index and the S&P 500 provides context on whether it is outperforming or underperforming the broader market.
What are the risks of investing in CODX?
Key risk categories for CODX include: market risk (overall market downturns affecting stock prices), company-specific risk (management changes, product failures, competitive threats), financial risk (high debt levels, cash burn, dilution from stock issuance), regulatory risk (government policy changes, lawsuits, compliance issues), and macroeconomic risk (interest rate changes, inflation, currency fluctuations). Beta measures CODX's volatility relative to the market - a beta above 1.0 means higher volatility than the S&P 500. Our AI-generated risk assessment identifies the most relevant risk factors for this specific stock.
Are insiders buying or selling CODX?
Insider trading activity for CODX tracks purchases and sales by company executives, directors, and major shareholders (10%+ owners) as reported in SEC Form 4 filings. Insider buying is generally considered a bullish signal because insiders have the deepest knowledge of company operations, while selling may have various motivations (diversification, tax planning, pre-planned 10b5-1 trading plans). Key metrics include the buy-to-sell ratio, total dollar value of insider transactions, and whether multiple insiders are trading in the same direction. Our Insider Flow tab shows recent transactions with dates and dollar amounts.
Is CODX a good stock for beginners?
Co-Diagnostics, Inc. (CODX) can be suitable for beginner investors depending on several factors. Look at the MoonshotScore on this page for an overall AI-powered assessment of growth potential and risk. Beginners should also check the company's market cap (larger companies tend to be less volatile), gross margin (higher margins mean stronger business fundamentals), and cash position (healthy cash reduces bankruptcy risk). Always start with a small position size and never invest money you cannot afford to lose.
How risky is CODX for first-time investors?
Every stock carries risk, including Co-Diagnostics, Inc. (CODX). First-time investors should review the Risk Factors section on this page for company-specific risks. Key risk indicators include price volatility (check the chart for daily swings), insider selling activity (see Insider Flow tab), and cash runway (see MoonshotScore breakdown). A diversified portfolio with an index fund like the S&P 500 as a core holding is generally recommended before adding individual stocks like CODX.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Data provided for informational purposes only.
- Stock data pending update.
- Financial metrics based on the most recent available data.