Zacks Investment Research Downgrades CohBar (NASDAQ:CWBR) to Hold

CohBar (NASDAQ:CWBRGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, reports.

According to Zacks, “Cohbar, Inc. operates is a biotechnology company. It engaged in the research and development of mitochondria-based therapeutics for the treatment of diseases associated with aging. Cohbar, Inc. is based in Menlo Park, California. “

NASDAQ CWBR traded up $0.01 during midday trading on Thursday, hitting $0.20. 210,991 shares of the company traded hands, compared to its average volume of 531,686. The company has a market cap of $17.40 million, a PE ratio of -0.95 and a beta of 2.51. The company’s 50-day simple moving average is $0.25 and its 200-day simple moving average is $0.33. CohBar has a 52 week low of $0.17 and a 52 week high of $2.27.

CohBar (NASDAQ:CWBRGet Rating) last posted its quarterly earnings data on Monday, May 16th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). During the same period in the prior year, the firm posted ($0.07) earnings per share. As a group, research analysts anticipate that CohBar will post -0.13 EPS for the current year.

Several large investors have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new stake in CohBar in the third quarter worth approximately $86,000. Strategic Wealth Investment Group LLC raised its holdings in shares of CohBar by 46.8% in the fourth quarter. Strategic Wealth Investment Group LLC now owns 118,735 shares of the company’s stock valued at $42,000 after purchasing an additional 37,858 shares during the last quarter. Millennium Management LLC acquired a new position in CohBar during the second quarter worth $201,000. BlackRock Inc. boosted its position in CohBar by 11.5% during the fourth quarter. BlackRock Inc. now owns 390,364 shares of the company’s stock worth $136,000 after purchasing an additional 40,298 shares during the period. Finally, Geode Capital Management LLC raised its stake in CohBar by 32.5% in the third quarter. Geode Capital Management LLC now owns 475,936 shares of the company’s stock valued at $456,000 after purchasing an additional 116,656 shares in the last quarter. 22.10% of the stock is owned by institutional investors and hedge funds.

CohBar Company Profile (Get Rating)

CohBar, Inc, a clinical stage biotechnology company, focuses in the research and development of mitochondria based therapeutics (MBTs) for the treatment of chronic and age-related diseases. The company develops MBTs to treat non-alcoholic steatohepatitis (NASH), obesity, fatty liver disease, idiopathic pulmonary fibrosis, type 2 diabetes, acute respiratory distress syndrome, cancer, and cardiovascular diseases, such as Alzheimer's disease.

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