Why Co-Diagnostics Shares Are Trading Higher Today

Co-Diagnostics Inc (NASDAQ: CODX) shares are trading higher Tuesday after the company announced its board authorized a share repurchase program, allowing Co-Diagnostics to repurchase up to $30 million of its common stock.

"We believe that the current share price provides us with an opportunity to strategically allocate capital in a way that helps drive continued growth and demonstrates our positive outlook for the company's future," said Brian Brown, CFO of Co-Diagnostics.

Co-Diagnostics is a molecular diagnostics company that develops, licenses and commercializes molecular technologies.

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CODX 52-Week Range: $5.01 - $14.97

Co-Diagnostics shares were up 14.91% at $5.78 at time of publication.

Photo: courtesy of Co-Diagnostics.