#5 - Co-Diagnostics (NASDAQ:CODX)
Co-Diagnostics (NASDAQ:CODX) is one of the small-cap stocks that is rewarding investors in 2020. The keyword is testing. Co-Diagnostics has a rapid response test for the novel coronavirus that has been proven to deliver fewer false positives. The kit is also proving effective at catching mutations of the virus.
The stock has been surging since the FDA granted the test kit emergency use authorization in April. Co-Diagnostics was also the first U.S. company to get approval for its test kit from the European Union.
There is a sense that CODX stock may have priced in all of the good news. The stock is down over 50% since August. However, the stock is up 24% in the last month. This suggests that investors are buying into the notion that a vaccine won’t be delivered until early next year at the earliest. If that is the case, the need for testing will remain one of the key strategies for tracking the virus.
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. The company offers Co-Dx PCR platform, a polymerase chain reaction (PCR) testing to patients in point-of-care and at-home setting.
Read More - Current Price
- $1.01
- Consensus Rating
- Hold
- Ratings Breakdown
- 0 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1.50 (48.5% Upside)
