BlackRock Acquires Stake In Cardio Diagnostics

BlackRock BLK has acquired a minor stake in Cardio Diagnostics CDIO, an artificial intelligence-powered precision cardiovascular medicine company. In BlackRock’s 13G filing on Feb. 2, they disclosed ownership representing 5.2% of Cardio Diagnostics. 

Fintel reports that the average one-year price target for Cardio Diagnostics is $6.12, and forecasts range from a low of $4.04 to a high of $8.40. 

Cardio Diagnostics had Weighted-Average Shares Outstanding (Diluted) of 11.90 million for the most recently reported fiscal quarter, ending Sept. 30, 2023. 

Cardio Diagnostics’ stock has an ownership structure of institutional, retail and individual investors. About 1.84% of the company’s stock is owned by institutional investors, while 18.58% is owned by insiders. About 79.58% is owned by public companies and individual investors. 

Prelude Capital Management, Geode Capital Management and Vanguard Group are the biggest institutional shareholders, with 121,000, 75,483 and 64,022 shares, respectively. 

About Cardio Diagnostics 

Cardio Diagnostics was formed to develop and commercialize clinical tests that leverage artificial intelligence-driven technology to combat cardiovascular disease. 

The company is behind PrecisionCHD, the first integrated genetic-epigenetic test for the detection of coronary heart disease (CHD), the most common type of heart disease and the cause of most heart attacks. With the introduction of PrecisionCHD, clinicians are armed with a powerful, scalable and non-invasive alternative that comes in the form of a blood-based test that uses artificial intelligence (AI), along with personalized genetic and epigenetic information, to sensitively detect the presence of CHD.

Cardio Diagnostics has also developed Epi+Gen CHD, a powerful test that predicts the three-year risk for a CHD event, mainly a heart attack. Powered by AI-driven integrated genetics and epigenetics, the tool enables more effective decision-making and earlier interventions.

Featured photo by Nicholas Cappello on Unsplash.

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