CODX Stock Explodes Over 630% In Six Sessions – Retail Traders Bet The Rally Isn’t Over Yet

• The company is working alongside its Indian JV, CoSara Diagnostics, to support faster international deployment if the outbreak spreads globally.
• The program includes both Bundibugyo-specific and pan-Ebola test configurations designed to detect multiple Ebola virus strains.
• According to the World Health Organization, the outbreak has already led to more than 900 suspected cases and 223 suspected deaths.

Shares of Co-Diagnostics (CODX) soared nearly 80% on Tuesday, extending a blistering six-session rally that has propelled the stock more than 630%, as investors rushed into diagnostics plays amid growing concerns over the Ebola outbreak spreading across the Democratic Republic of Congo and Uganda.

CODX shares are on track for their biggest monthly gains since implementing a 1-for-30 reverse share split in January.

Why Are CODX Shares Gaining Today?

Co-Diagnostics announced that it has expanded development efforts for a Polymerase Chain Reaction (PCR) test targeting the Bundibugyo virus strain responsible for the ongoing Ebola outbreak in the Democratic Republic of Congo and Uganda.

The company is working alongside its Indian joint venture, CoSara Diagnostics, to support faster international deployment if the outbreak spreads globally. The firm develops molecular diagnostic tests using its proprietary PCR technology platform.

The program includes both Bundibugyo-specific and pan-Ebola test configurations designed to detect multiple Ebola virus strains. Co-Diagnostics is also exploring point-of-care and decentralized testing options using its PCR platform to improve access in affected regions.

WHO: Health Responders Are Playing Catch-Up

The development comes as health agencies worldwide intensify surveillance efforts after new Ebola cases emerged in the region. The U.S. Centers for Disease Control and Prevention has also urged stronger screening protocols for travelers from affected areas.

The World Health Organization (WHO) declared the outbreak a public health emergency of international concern earlier this month. According to the organization, the outbreak has already led to more than 900 suspected cases and 223 suspected deaths, with response operations struggling to keep pace with the disease's spread.

On Monday, WHO director-general Tedros Adhanom Ghebreyesus said delays in identifying Ebola cases had forced health responders to “play catch-up,” warning that the outbreak could worsen before conditions improve, according to a report by Reuters.

Retail Sees Further Gains

Retail sentiment for CODX on Stocktwits trended in the ‘extremely bullish’ territory, amid a 3,950% increase in message volumes on the platform.

One user expects the stock to hit double digits this week.

Read also: Why Is GOVX Stock Falling Today?

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