By Jeremy Golden, Benzinga
BlackRock (NYSE: BLK) has acquired a minor stake in Cardio Diagnostics (NASDAQ: CDIO), an artificial intelligence-powered precision cardiovascular medicine company. In BlackRocks 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 companys 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.
Cardio Diagnostics is an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention, detection, and management more accessible, personalized, and precise. The Company was formed to further develop and commercialize clinical tests by leveraging a proprietary Artificial Intelligence (AI)-driven Integrated Genetic-Epigenetic Engine (Core Technology) for cardiovascular disease to become one of the leading medical technology companies for improving prevention, detection, and treatment of cardiovascular disease. For more information, please visit www.cardiodiagnosticsinc.com.
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases will, "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," goal, or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, economic conditions, dependence on management, dilution to stockholders, lack of capital, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Companys ability to compete, regulatory matters, protection of technology, the effects of competition and the ability of the Company to obtain future financing. An extensive list of factors that can affect future results are discussed in the Current Report on Form 10-K for the period ended December 31, 2022 and Form 10-Q for the period ended March 31, 2023, under the heading Risk Factors in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.
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Gene Mannheimer – Investor Relations
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Cardio Diagnostics Holdings, Inc
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