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

Cocrystal Pharma Inc (OTCMKTS:COCP)’s stock price was up 6.5% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $0.55 and last traded at $0.49, approximately 119,500 shares traded hands during mid-day trading. An increase of 312% from the average daily volume of 28,980 shares. The stock had previously closed at $0.46.

The company reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The company had revenue of $0.49 million during the quarter.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. lifted its holdings in Cocrystal Pharma by 5.4% in the 2nd 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 during the last quarter. Parallel Advisors LLC acquired a new stake in Cocrystal Pharma in the 3rd quarter worth approximately $99,000. Vanguard Group Inc. lifted its holdings in Cocrystal Pharma by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 360,364 shares of the company’s stock worth $847,000 after purchasing an additional 15,336 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Cocrystal Pharma by 15.3% in the 2nd quarter. BlackRock Inc. now owns 35,323 shares of the company’s stock worth $83,000 after purchasing an additional 4,685 shares during the last quarter.

The company has a fifty day moving average of $1.34 and a two-hundred day moving average of $2.06.

About Cocrystal Pharma (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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