Renaissance Technologies LLC recently announced the acquisition of new stake in Cocrystal Pharma Inc. (NASDAQ:COCP). The institutional investor has increased its shareholding in the Healthcare company by 101.61% to 3.07 million shares with purchase of 1.55 million shares. This fresh investment now brings its stake to 5.89% valued currently at $5.19 million. In addition, LSP Advisory BV raised its holdings by 14706.0 to 1.36 million shares. And Geode Capital Management LLC has lifted its position by 529.86% or 0.22 million shares – to 0.26 million shares.
With over 1.87 million Cocrystal Pharma Inc. (COCP) shares trading Monday and a closing price of $1.06 on the day, the dollar volume was approximately $1.98 million. The shares have shown a negative weekly performance of -22.63% and its price on 08/31/20 lost nearly 0.00%. Currently, there are 52.14M common shares owned by the public and among those 17.94M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for COCP have a consensus price objective of $5.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Cocrystal Pharma Inc. stock is 2.00 for the next 12 months. But an upside of 78.8% will see the stock hit the forecast high price target while mean target price for the stock is $5.00.
Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 16,935 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Cocrystal Pharma Inc. are LSP Life Sciences Fund NV, Vanguard Total Stock Market Index, and Vanguard Extended Market Index Fu. LSP Life Sciences Fund NV owns 1.36 million shares of the company’s stock, all valued at over $2.29 million. The company bought an additional 14706.0 shares recently to bring their total holdings to about 2.60% of the shares outstanding. Vanguard Total Stock Market Index bought 0.21 million shares to see its total holdings expand to 0.54 million shares valued at over $0.92 million and representing 1.04% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 0.94% of the shares outstanding.
Shares of Cocrystal Pharma Inc. (NASDAQ: COCP) opened at $1.07, up $0.01 from a prior closing price of $1.06. However, the script later closed the day at $1.06, down 0.00%. The company’s stock has a 5-day price change of -22.63% and 13.25% over the past three months. COCP shares are trading 113.93% year to date (YTD), with the 12-month market performance down to -53.71% lower. It has a 12-month low price of $0.39 and touched a high of $3.04 over the same period. Currently, 1.87 million shares have been traded, compared to an average intraday trading volume of 4.90 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -41.97%, -39.68%, and 3.47% respectively.
Institutional ownership of Cocrystal Pharma Inc. (NASDAQ: COCP) shares accounts for 17.20% of the company’s 52.14M shares outstanding. Mutual fund holders own 5.14%, while other institutional holders and individual stakeholders account for 8.06% and 30.26% respectively.
It has a market capitalization of $54.20M and a beta (3y monthly) value of -0.20. The earnings-per-share (ttm) stands at -$1.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.35% over the week and 13.89% over the month.
Analysts forecast that Cocrystal Pharma Inc. (COCP) will achieve an EPS of -$0.05 for the current quarter, -$0.05 for the next quarter and -$0.18 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was -$0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 13.70%, and 0.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Cocrystal Pharma Inc. (COCP) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the COCP, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on July 08, 2020, with the firm’s price target at $5.