Co-Diagnostics Inc (CODX)

[Opti Mist]

Yet another hit piece by Seeking Alpha, https://seekingalpha.com/article/4332319-doesnt-appear-to-be-real-interest-in-co-diagnostics-coronavirus-test-reiterate-1-price-target?utm_medium=email&utm_source=seeking_alpha&mail_subject=codx-there-doesn-t-appear-to-be-any-real-interest-in-co-diagnostics-coronavirus-test-we-reiterate-our-1-price-target&utm_campaign=rta-stock-article&utm_content=link-2

There Doesn't Appear To Be Any Real Interest In Co-Diagnostics' Coronavirus Test - We Reiterate Our $1 Price Target
Mar. 17, 2020 9:00 AM ET|12 comments | About: Co-Diagnostics, Inc. (CODX), Includes: OPK, QGEN, RHHBF, TMO

White Diamond Research

Long/short equity, short only, Growth, special situations
White Diamond Research



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Summary
Additional research by us further supports our belief that CODX’s device is not effective for coronavirus testing.
CODX created their coronavirus test in only one week, larger diagnostic companies have taken longer. Roche took six weeks.
Many diagnostic companies are getting US government support for their coronavirus tests, but not CODX.
CODX announced they are selling their device to 3rd world countries, which is a sign of failure in our opinion.
We reiterate our $1 price target.

Conclusion
Since the coronavirus panic started, CODX was one of the first healthcare companies to get in on the action. It was the first diagnostic company to receive CE mark for a coronavirus diagnostic test. CODX has also been highly promotional to investors, with many PRs and presentations. However, as far as we have seen, it has failed to find any support or interest in its products from hospitals, universities, companies or government agencies. With only creating its coronavirus test in one week, we believe there’s likely to be some flaws with it that could explain the lack of interest. We don’t expect this interest to improve, but likely get worse over time as other diagnostic companies create effective and improved coronavirus tests and leave CODX further in the dust. We reiterate our $1 price target, which we believe is generous. We wouldn’t be surprised to see CODX trading at new all-time lows in one year, especially if the coronavirus is gone by then.

Disclosure: I am/we are short CODX. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.