Cardio Diagnostics a new outperform at Northland on AI and diagnostic tests
Nikita John Creagh
- Northland has initiated Cardio Diagnostics (NASDAQ:CDIO) with an outperform rating saying that its use of artificial intelligence is revolutionizing the diagnostics market.
- The firm has an $8 price target (~456% upside based on Friday's close).
- Analyst Carl Byrnes lauded the company for "integrating AI with genetic and epigenetic biomarkers to produce precision medicine diagnostic tests."
- Cardio Diagnostics (CDIO) currently markets the Epi+Gen CHD test. It assesses near-term (3-year) risk for a heart attack. The company boasts it as the first and only test for coronary heart disease primary prevention that provides personalized insights based on two types of DNA biomarkers, genetic and epigenetic.
- It also markets Precision CHD for early detection of CHD.
- Cardio Diagnostics' (CDIO) "proprietary AI-driven Integrated Genetic-Epigenetic Engine allows for the mining of billions of data points to identify genetic (single nucleotide polymorphisms, SNPs) and epigenetic (DNA methylation) biomarkers to create precision diagnostics," Byrnes noted.
- He added the two tests have a total addressable market of ~$185B.
- Seeking Alpha's Quant Rating sees the company as a strong sell.