Cocrystal Pharma, Inc. (NASDAQ:COCP) Sees Large Drop in Short Interest

Cocrystal Pharma, Inc. (NASDAQ:COCPGet Rating) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totalling 139,900 shares, a decline of 23.8% from the April 15th total of 183,600 shares. Based on an average daily volume of 268,600 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the shares of the stock are sold short.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. increased its stake in shares of Cocrystal Pharma by 108.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,243 shares of the company’s stock worth $25,000 after purchasing an additional 12,625 shares in the last quarter. Barclays PLC raised its stake in shares of Cocrystal Pharma by 248.5% during the 3rd quarter. Barclays PLC now owns 26,665 shares of the company’s stock valued at $28,000 after purchasing an additional 19,014 shares during the period. JPMorgan Chase & Co. lifted its holdings in Cocrystal Pharma by 5,155.0% during the 4th quarter. JPMorgan Chase & Co. now owns 59,959 shares of the company’s stock worth $39,000 after purchasing an additional 58,818 shares in the last quarter. Two Sigma Advisers LP bought a new position in Cocrystal Pharma in the 3rd quarter worth about $60,000. Finally, LPL Financial LLC grew its stake in Cocrystal Pharma by 12.2% during the fourth quarter. LPL Financial LLC now owns 200,250 shares of the company’s stock valued at $130,000 after acquiring an additional 21,750 shares in the last quarter. 15.43% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on COCP shares. Noble Financial reissued a “buy” rating and issued a $5.00 price objective on shares of Cocrystal Pharma in a research note on Thursday, May 12th. HC Wainwright reissued a “buy” rating and set a $4.00 target price on shares of Cocrystal Pharma in a research report on Monday, March 14th.

COCP traded down $0.01 during mid-day trading on Tuesday, reaching $0.40. 91 shares of the stock were exchanged, compared to its average volume of 275,927. Cocrystal Pharma has a 1 year low of $0.37 and a 1 year high of $1.49. The stock has a market capitalization of $38.99 million, a PE ratio of -2.50 and a beta of 1.13. The company has a 50 day moving average price of $0.51 and a two-hundred day moving average price of $0.62.

Cocrystal Pharma (NASDAQ:COCPGet Rating) last issued its quarterly earnings results on Wednesday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). On average, equities research analysts expect that Cocrystal Pharma will post -0.16 earnings per share for the current fiscal year.

About Cocrystal Pharma (Get Rating)

Cocrystal Pharma, Inc, a biotechnology company, focuses on the discovery and development of antiviral therapeutic treatments for serious and/or chronic viral diseases. It employs structure-based technologies to create antiviral drugs primarily to treat hepatitis C virus (HCV), influenza virus, coronavirus, and norovirus infections.

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