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Almost all odd lot trades of minimal amounts. Low volume manipulation.
Opti
Unfortunately there is now a second solicitation. See https://finance.yahoo.com/news/co-diagnostics-investor-alert-faruqi-003410982.html
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
The word "solicitation". What profession does it remind you of? Hint: politicians are often brought down because of a record of "solicitation" in their background.
Opti
The bogus class action law suit that may be filed. Ambulance chaser.
LOS ANGELES, June 15, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Co-Diagnostics, Inc. (NASDAQ: CODX) investors that the firm has initiated an investigation into alleged violations of securities laws, and may file a lawsuit on behalf of investors to recover losses suffered by investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, including eligibility for appointment as a class representative.
The investigation focuses on whether Co-Diagnostics, Inc. through its officers misled investors regarding the reliability and accuracy of the company’s testing for COVID-19. Specifically, the investigation focuses on whether the company’s statements that its tests were 100% accurate in fact misled investors and improperly inflated the price of the stock.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors from around the world and specializes in securities class actions and shareholder rights litigation. Attorney advertising. Prior results do not guarantee similar outcomes.
Opti
Possible.
Opti
Imagine what will happen if we have a high volume day.
Opti
Happy Birthday!
Motley Fool Article at:
https://www.fool.com/investing/2020/06/08/why-co-diagnostics-stock-soared-59-in-may.aspx
In 2020, analysts are modeling for adjusted earnings per share of $2.06 on revenue of $93.5 million. Last year, the company posted a loss of $0.36 per share on sales of $215,000.
Opti
I don't know of any reason it should fall to the $7/8 range. If I did, I would be selling. When a stock falls on such minor volume, I do not see a news-worthy reason, but instead see short manipulation.
News will propel us up, but we do need news.
Opti
Personally I am holding. Seems like we have gone through this several times before. Lack of significant volume makes me believe this is simple short drift.
Opti
Inovio to begin Phase 1/2 trial of COVID-19 DNA vaccine in South Korea
Jun. 4, 2020 6:48 AM ET|About: Inovio Pharmaceuticals, Inc. (INO)|By: Mamta Mayani, SA News Editor
Inovio Pharmaceuticals (NASDAQ:INO), the International Vaccine Institute, and Seoul National University Hospital announce a partnership to start a Phase 1/2 clinical trial of Inovio's COVID-19 vaccine INO-4800 in South Korea.
The 2nd-stage trial of INO-4800 will assess the safety, tolerability, and immunogenicity of the candidate vaccine in 40 healthy adults aged 19-50 years, and will further expand to enroll an additional 120 people aged 19-64 years.
The trial is expected to start later in June.
Opti
Funding announced for warp-speed vaccine finalists. I wonder if similar funding will be announced for companies working on tests? If so, this will be BIG news. https://seekingalpha.com/news/3580197-non-warp-speed-covidminus-19-vaccine-players-under-pressure
Opti
I am posting news as I receive it thru my Seeking Alpha account, which most people do not have.
News, no comment and certainly no recommendation In fact, no opinion.
Opti
Inovio hits speed bump in supply of COVID-19 vaccine candidate
Jun. 3, 2020 4:28 PM ET|About: Inovio Pharmaceuticals... (INO)|By: Douglas W. House, SA News Editor
Inovio Pharmaceuticals (NASDAQ:INO) has filed litigation in a Pennsylvania court against VGXI and GeneOne Life Science (together "VGXI") aimed at forcing the latter to transfer its DNA plasmid technology to INO's contract manufacturers so they can produce sufficient quantities of COVID-19 vaccine candidate INO-4800 for clinical trials and potential supply to the market, if approved.
Under a December 2019 agreement, VGXI as been the sole supplier of DNA plasmids to INO under "most favored" status although there are no purchase commitments and pricing is determined on per-order basis.
VGXI has informed INO that it lacks the capacity to make the volume of material in the requested timeline and it will be unable to make the plasmids for commercial sales of INO-4800. INO subsequently engaged third-party contract manufacturers to fill the void but they need VGXI's technology to do so, a development that VGXI is balking over.
INO is down 1% after hours.
Non-Warp Speed COVID-19 vaccine players under pressure
Jun. 3, 2020 3:29 PM ET|About: Vir Biotechnology, Inc. (VIR)|By: Douglas W. House, SA News Editor
Certain COVID-19 vaccine developers that the Trump administration left out of the final round of Operation Warp Speed are under pressure on the loss of potential federal funding to support their development efforts.
Selected tickers: Vir Biotechnology (VIR -9.5%), Novavax (NVAX -13.6%), Dynavax (DVAX -4.4%), Altimmune (ALT -6.6%), BioNTech (BNTX -1.0%), Arcturus Therapeutics (ARCT -11.6%), Soligenix (SNGX), GeoVax Labs (OTCPK:GOVX -3.9%), Inovio Pharmaceuticals (INO -12.8%), iBio (IBIO -5.2%), Vaxart (VXRT -6.3%)
Could be any day
waiting for news
Holding for news.
Opti
This is not about the last quarter's earnings. It is about earnings going forward.
Opti
Low volume.
So is this "no short list" just BS ? Nothing stops short seller manipulation.
Just along for the ride.
Opti
No volume
Copied from Yahoo board
CODX is in Nasdaq SHO list which means the short seller are not able to cover their position as there are not many sellers in the market. They are naked and will be badly short squeezed tomorrow. Shareholders, please do not sale your share. This will easily jump 35% tomorrow.
https://www.nasdaqtrader.com/trader.aspx?id=RegSHOThreshold
Any experience with this threshold list?
Opti
Afterhours gains nearly zero the days loses.
Looking forward to a good day tomorrow.
Opti
Co-Diagnostics, Inc. to Present at COVID-19 Virtual Conference Hosted by Maxim Group on May 27, 2020
by Co-Diagnostics | May 27, 2020 | News Release |
Salt Lake City, Utah – May 27, 2020 – Co-Diagnostics, Inc. (Nasdaq:CODX) (the Company), a molecular diagnostics company with a unique, patented platform for the development of diagnostic tests, announced today that Company CEO Dwight Egan has been invited to present at The Role of Cell Therapy & Clarity on Testing COVID-19 virtual conference, presented by Maxim Group and M-Vest on Wednesday May 27th, 2020.
In addition to the Company’s presentation, Co-Diagnostics will participate in a panel discussion on the need, lack, and confusion surrounding COVID-19 testing titled “Testing and Susceptibility – Clearing the Air” at 12:00 PM.
The Co-Diagnostics Logix Smart™ COVID-19 test is currently available to all clinical laboratories certified under Clinical Laboratory Improvement Amendments (CLIA), and is authorized to be used for the diagnosis of SARS-CoV-2, the virus that causes COVID-19.
To access the panel discussion, please RSVP at https://m-vest.com/insights/blog/covid-19-virtual-conference.
Panel Discussion Details:
Panel Session Title: Testing & Susceptibility – Clearing the Air
Date and Time: Wednesday, May 27, 12:00 p.m. Eastern time (9:00 a.m. Pacific time)
Opti
So 50% of antibody tests might be wrong, CDC says
Bosses should not use antibody tests to determine whether employees should come back to work, the US Centers for Disease Control and Prevention says in new guidance.
The serologic tests, which are used to determine whether people have been infected in the past with Covid-19, might be wrong up to half the time.
"In a population where the prevalence is 5%, a test with 90% sensitivity and 95% specificity will yield a positive predictive value of 49%. In other words, less than half of those testing positive will truly have antibodies," the CDC says.
They are not accurate enough to use to make important policy choices, the CDC says.
"Serologic test results should not be used to make decisions about returning persons to the workplace," it says. It should not also factor into decisions at correctional facilities, K-12 schools and college residence halls, the CDC says.
It is best to use tests with high specificity, the CDC adds.
https://www.cnn.com/2020/05/26/health/us-coronavirus-tuesday/index.html
Opti
Pretty simple rules. Post about the company, not individuals. Stay on topic.
You can always send a moderator a private message contending a removed post. They will respond with an explanation
Opti
But , they could license the technology to the lab that is supporting MLB. Nice way to find middle ground.
The Newsday article did mention the PR problem MLB might have with players being tested daily and the general public not having access to testing.
All the more reason for CODX to start selling the right to manufacture its test kits by additional companies. There is no limit to the # of tests needed over the next year.
Opti
MLB testing plan: from several articles listed at the bottom.
One of the hurdles Major League Baseball faces in a return to play is how to provide frequent and comprehensive coronavirus testing without depriving frontline workers and the more vulnerable from needed tests. MLB believes it has cleared that hurdle: by partnering with the Utah lab that runs its performance-enhancing drug program to turn that lab into a coronavirus testing facility.
In partnership with MLB, the Utah lab, The Sports Medicine Research and Testing Laboratory, not only would provide coronavirus testing for the 3,000 or so baseball players and support staff but also for thousands more in the general public. Under that plan, MLB would provide a net gain to public testing rather than drawing from existing resources.
I wonder what test method is employed by the Utah lab, The Sports Medicine Research and Testing Laboratory?
https://www.si.com/mlb/2020/05/14/coronavirus-test-baseball
According to the draft plan, a copy of which has been given to the MLBPA but which has not yet been seen by most players, the testing component relies heavily on saliva testing, not the swab-up-the-nose testing, which is considered a far more workable and replicable form of mass COVID-19 testing (you can read a detailed story about that kind of testing here). Passan says that MLB could be conducting up to 10,000 COVID-19 tests per week under their plan.
At the moment it seems like a very tall order to produce that many tests, and turnaround could be an issue early — it could be 24-72 hours before those tested know their results — but I suspect MLB’s use of the private PED lab, and ramp-up going forward, could alleviate that to some degree. Left as an open question: the ethics of MLB creating and using those kinds of testing resources for an entertainment product at a time when the nation is still behind in the amount of testing we’re doing of the general population.
https://mlb.nbcsports.com/2020/05/16/mlb-releases-draft-of-covid-19-testing-safety-protocols/
The Players Association’s round of Thursday feedback also touched on protocols for positive tests, in-stadium medical personnel, protections for high-risk players and families, access to pregame and postgame therapies and sanitization protocols.
Under MLB’s original health and safety outline, players would be tested at least twice per week, along with temperature and symptom checks at least daily.
More testing would mean more peace of mind for everyone involved, but it’s not clear if the league can safely and in good conscience acquire enough tests for, say, daily testing — especially at a time when the public also needs COVID-19 tests.
https://www.newsday.com/sports/baseball/mlb-players-union-response-coronavirus-health-protocols-1.44829480
Whether or not the Utah testing lab used by MLB uses the CODX test, this is still yet another endorsement for testing.
Opti
7 Top-Rated Biotech Stocks to Buy on the Hunt for a Vaccine
By Louis Navellier and the InvestorPlace Research Staff, Editor, Growth Investor May 22, 2020, 9:05 am EDT
https://investorplace.com/2020/05/7-top-rated-biotech-stocks-to-buy/
here are seven biotech stocks that are positioned to pay off nicely.
Co-Diagnostics (NASDAQ:CODX)
iBioPharma (NYSE:IBIO)
Moderna (NASDAQ:MRNA)
Biogen (NASDAQ:BIIB)
Gilead Sciences (NASDAQ:GLID)
Vertex Pharmaceuticals (NASDAQ:VRTX)
Inovio (NASDAQ:INO)
Biotech Stocks to Buy: Co-Diagnostics (CODX)
Source: Shutterstock
You may have read my recent overview of Co-Diagnostics. This Utah-based biotech company has posted amazing growth in 2020 on the strength of its Logix Smart Covid-19 test kit.
Doctors quickly learned that symptoms aren’t a reliable way to determine if someone is infected with Covid-19. Accurate and fast testing for Covid-19 infections is critical to determining whether someone needs to be isolated and/or hospitalized for treatment. As the country begins to re-open, testing becomes even more critical as medical authorities monitor for potential second waves of the pandemic.
Looking into the future, testing is still going to be important for years — even if a vaccine is developed.
Co-Diagnostics is one of the leading providers of Covid-19 test kits, and it’s selling them to states faster than it can make them. That’s over 6 million to date, with production going full blast to manufacture another 20 million tests just to keep up with current and short-term demand.
CODX stock is up over 1,900% to this point in 2020, with no signs of running out of steam.
Opti
From the article: Analyst states: "Our 12-month price target of $36.00 is based on a discounted earnings model (see Figure 2). This is $18 above our previous price target and the change is due to both our model showing earnings this year and next instead of losses and because we lowered the discount rate assumption to 7% from 10%. Given the current interest rate environment, some investors could make the case for a 5% discount rate, which would generate a $55 price target."
Opti
Litchfield Hills complete report at:
http://codiagnostics.com/wp-content/uploads/2020/05/LH-21MAY20-Update.pdf
Opti
New analyst target of $36/share.
Action Summary – 21 May 2020
Analyst Theodore R. O’Neill – Gaining share in a $52 billion market
Summary:
• The company reported a significant uptick in revenue for the quarter and met consensus EPS estimates. It reported a loss of $0.05 per share meeting consensus on $1.55MM of revenue. Consensus revenue expectation was $0.6MM. We had expected $0.1MM in revenue a loss of $0.08. Revenue was 158% more than consensus due to demand for its COVID-19 testing kits and equipment sales. The company met consensus EPS due to higher sales, higher margins, and lower other expenses offset by higher operating expenses.
• We believe its U.S. addressable market for COVID-19 tests is worth $52 billion. We now believe that demand for tests will exceed 5 billion per year in the U.S. This is a combination of employed individuals, students, and others who would require testing every week in order to control future breakouts. We anticipate approximately 100 million individuals will need the test and that gets us to 5.2 billion tests. And at nominal $10/test, the market would reach $52B.
• We have raised our 2020 and 2021 estimates from an EPS loss of $0.28 on $4.1MM of revenue and an EPS loss of $0.03 on $28MM of revenue, respectively to an EPS gain of $1.42 on $83MM of revenue and an EPS gain of $1.20 on $89MM of revenue.
• Following the increase in earnings estimates we are reiterating our Buy rating and raising our price target to $36 from $18
Opti
Likewise. I am not buying anything for the next six months. I either hit it rich with CODX or I make good with what I have. Time to return to saving money, not spending it on risky stocks.
Opti
All the COVID stocks down today
Hindenburg is an evil short. They hit CODX last Thursday.
Opti
Sorrento down another 15% as Hindenburg shorts
May 20, 2020 9:52 AM ET|About: Sorrento Therapeutics, Inc. (SRNE)|By: Stephen Alpher, SA News Editor
"I suggest extreme skepticism regarding any claims made by Sorrento (NASDAQ:SRNE)," one former employee tells Hindenburg Research. "I would never in my life have put out a press release where I say we have a cure," says a former executive.
Full report here
Hindenburg claims the company was nearly out of cash and facing solvency concerns ahead of its COVID-19 cure announcement.
Hindenburg: "We believe that Sorrento’s actions are manipulative at the worst possible time and simply amount to an attempt to shamelessly profiteer off the pandemic."
Shares are down 15% this morning, and now off about 50% from the high hit on Monday.
Hindenburg has been critical on other Covid-19 names recently, like Opko Health (NASDAQ:OPK) and Co-Diagnostics (NASDAQ:CODX).
By the way, the Motley Fool article is very flawed, beginning with its claim that the CODX test is an anti-body test and then further complicated by its chart which somehow shows a 99% accuracy translates to a 1 in 3 change of being false.
I expect a hit piece later this week quoting the misinformation in this article.
Long and strong,
Opti
Battling articles this morning:
Maxim upgrade: https://seekingalpha.com/news/3576302-maxim-likes-co-diagnostics-sees-59-upside?utm_medium=email&utm_source=seeking_alpha&mail_subject=codx-maxim-likes-co-diagnostics-sees-59-upside&utm_campaign=rta-stock-news&utm_content=link-3
Maxim likes Co-Diagnostics, sees 59% upside
May 20, 2020 8:53 AM ET|About: Co-Diagnostics, Inc. (CODX)|By: Douglas W. House, SA News Editor
COVID-19 test maker Co-Diagnostics (NASDAQ:CODX) is up 5% premarket on increased volume on the heels of an upgrade to Buy with a $30 (59% upside) price target at Maxim Group.
The stock has been a star performer in 2020, up 21-fold this year.
And Motley Fool: https://www.fool.com/investing/2020/05/20/is-co-diagnostics-stock-in-a-bubble.aspx
So what should investors do?
Let's get right to it: Is Co-Diagnostics' stock in a bubble because of excessive optimism about the value of Logix? In my opinion, absolutely not, because Logix is a gem compared to the rest of the tests out there. Recently, the FDA publicly admitted that its "open door" policy in authorizing SARS-CoV-2 antibody tests had opened a floodgate for fraudulent and seriously inaccurate tests.
Meanwhile, there are some laboratory studies that cautiously confirm Logix's effectiveness. Additionally, Co-Diagnostics is growing its test-kit revenue by a wide margin compared with last quarter. For speculators, there is no doubt a lot of money is ready to be made (or lost) on the stock just because of the sheer magnitude of its volatility.
However, healthcare investors with a more long-term outlook should stay well away from the stock until the FDA has in fact vetted Logix to confirm whether it's 100% effective. There is just too much at stake; even a small mistake in stating its true sensitivity and specificity (S&S) can snowball into massive errors for the experimental test kit. Investors will want to avoid taking a stake in the stock, then waking up one morning to see the FDA found Logix was actually 99% accurate in terms of S&S, rather than 100% -- a 19% chance of hitting a false positive -- and watching the stock collapse as a result.
Opti
Thanks for checking in Jdub.
Opti
agreed. Also I am beginning to believe the intra-day run up was also a part of the manipulation. Last Thursday the closing price was down just over a dollar from the closing price in Wednesday, but it seemed to be a much larger drop because of the run up to $29.72 before the big hit. Physiologically it felt like a giant drop, but really it was only a dollar. Further note, most of the run up was after hours Wednesday and before hours Thursday. It is much easier to manipulate the price during those after/pre market hours.
Keep you eye on the closing price from day-to-day and you will see the steady increase.
Opti
Trade at 4:09:27 at $10.60
Opti