Cocrystal Pharma (OTCMKTS:COCP) Shares Up 6.5% Following Earnings Beat

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Cocrystal Pharma Inc (OTCMKTS:COCP)’s share price shot up 6.5% on Wednesday following a stronger than expected earnings report. The company traded as high as $0.55 and last traded at $0.49, 119,500 shares were traded during mid-day trading. An increase of 312% from the average session volume of 28,980 shares. The stock had previously closed at $0.46.

The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.49 million during the quarter.

A number of institutional investors and hedge funds have recently bought and sold shares of COCP. Wasatch Advisors Inc. raised its holdings in Cocrystal Pharma by 5.4% in the second quarter. Wasatch Advisors Inc. now owns 1,152,731 shares of the company’s stock worth $2,709,000 after purchasing an additional 59,235 shares in the last quarter. BlackRock Inc. grew its stake in shares of Cocrystal Pharma by 15.3% in the second quarter. BlackRock Inc. now owns 35,323 shares of the company’s stock worth $83,000 after acquiring an additional 4,685 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Cocrystal Pharma by 4.4% in the second quarter. Vanguard Group Inc. now owns 360,364 shares of the company’s stock worth $847,000 after acquiring an additional 15,336 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new stake in shares of Cocrystal Pharma in the third quarter worth $99,000.

The business has a 50 day moving average price of $1.31 and a 200 day moving average price of $2.05.

Cocrystal Pharma Company Profile (OTCMKTS:COCP)

Cocrystal Pharma, Inc, formerly Biozone Pharmaceuticals, Inc, is engaged in developing medicines for use in the treatment of human viral diseases. The Company develops technologies and approaches to create antiviral drug candidates. The Company is developing antiviral therapeutics that inhibit the replication function of a virus, including the ribonucleic acid (RNA)-dependent RNA polymerase enzyme, the helicase enzyme and the NS5A protein of hepatitis C virus (HCV), and the polymerase enzymes of influenza virus and norovirus.

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