What's Going On With Cardio Diagnostics Stock?

Cardio Diagnostics Holdings Inc. CDIO shares were trading lower on Wednesday. The company announced Family Medicine Specialists selected the company's epigenetic-genetic tests to identify patients at risk for coronary heart disease.

What To Know: Family Medicine Specialists (FMS) is utilizing Cardio Diagnostics' heart attack risk assessment test, Epi+Gen CHD, on at least 1,200 patients with CHD risk factors with BlueCross BlueShield Medicare, Medicaid, HMO and PPO health plans.

"With over 10,000 patient visits monthly across our eight clinics, FMS is committed to preventing avoidable cardiac events in our patients," said Dr. Jennifer Bellucci-Jackson, owner and lead clinician at FMS.

"Cardio Diagnostics' tests are simple to deploy in the clinics as they only require a blood draw and can provide advanced insights that our clinicians cannot obtain from current tools to identify the patients who need our help. Proactive risk assessment doesn't just save lives; it translates to tangible savings, considering the human and financial costs linked with surprise heart attacks," said Bellucci-Jackson.

Shares of Cardio Diagnostics were halted and then resumed trading several times on Wednesday following the news.

Additionally, the price dive was accompanied by unusually high volume. According to data from Benzinga Pro, the stock experienced an above-average trading volume of 81.05 million shares compared to its average volume of 7.36 million.

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CDIO Price Action: Shares of Cardio Diagnostic were down 0.36% at $1.38 after-hours Wednesday at the time of publication, according to Benzinga Pro.

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Photo: Jan Alexander from Pixabay