Exploring CohBar, Inc. (CWBR) Investor Profile: Who’s Buying and Why?

You're looking at CohBar, Inc. (CWBR)-now effectively TuHURA Biosciences, Inc. following the strategic merger-and trying to figure out who's holding the bag and why anyone is buying a stock trading at just $0.41 a share with a tiny $1.19 million market capitalization as of November 2025. Honestly, the investor profile is a classic biotech high-risk, high-reward split: roughly 35% of the company is held by institutional investors like RVW Wealth, LLC, which reported owning 181,490 shares, while the public float (retail) makes up about 50% of the total ownership. The real question is whether these institutions are betting on the legacy mitochondrial assets or the new oncology pipeline, specifically the IFx-Hu2.0 immunotherapy platform that came with the merger. Given the shift, are you comfortable with the fact that pre-merger CohBar shareholders now own only about 15% of the combined entity, and is the promise of a novel cancer treatment worth the risk of holding a stock that's moved to the Other OTC market after its Nasdaq delisting? The answer lies in dissecting that 35% institutional slice.

Who Invests in CohBar, Inc. (CWBR) and Why?

You're looking at CohBar, Inc. (CWBR), and honestly, the investor profile is a fascinating case study in high-stakes biotech speculation. The direct takeaway is this: the ownership is heavily skewed toward insiders and the general public, not the large institutional funds you might expect in a mature company. The investment thesis is a pure, binary bet on the success of a single, late-stage oncology asset.

Following the late 2023 merger with Morphogenesis Inc., the company's focus shifted entirely to the acquired immunotherapy platform, now operating as TuHURA Biosciences, Inc. (HURA). This transformation, from mitochondrial therapeutics to a Phase 3 registration-stage immune-oncology company, is what drives the current investor base. It's a high-risk, high-reward proposition, plain and simple.

Key Investor Types: A Breakdown of Ownership

The ownership structure of CohBar, Inc. (CWBR) is a clear signal of its clinical-stage status and the inherent volatility of the biotech sector. As of late 2025, the majority of the stock is held by the people closest to the company and individual investors, not the large, diversified institutions. Here's the quick math on the shareholder breakdown, which is critical for understanding who controls the company's direction:

Notice the concentration: insiders hold a massive 36.85% of the company. This means the people running the show have a deep, vested interest in its success, which is a good sign for alignment, but it also means a smaller float (the number of shares available for public trading). The retail crowd, or the general public, holds the largest piece of the pie at 51.24%. This often contributes to higher price volatility because individual investors can be quicker to buy or sell based on news flow.

Even with this concentration, major institutional players are involved, though their collective stake is relatively small at about 11.91%. You see names like Vanguard Group Inc and BlackRock, Inc. among the largest institutional holders as of the third quarter of 2025. To be fair, these are often passive index funds, meaning they own the stock simply because it's in a small-cap index, not necessarily because an analyst is actively picking it. Hedge funds, for their part, don't currently hold a meaningful investment in the company.

Investment Motivations: Betting on a Phase 3 HURA

The motivation for buying CohBar, Inc. (CWBR) stock is not about income; it's about exponential growth. The company has a 0.00% dividend yield and reported $0 in product sales revenue in 2024. So, why buy?

• Oncology Pipeline Potential: The entire investment thesis rests on the lead asset, IFx-Hu2.0, which is a personalized cancer vaccine in a Phase 3 registration-stage trial. Success here would be a game-changer, validating the entire business model and leading to a massive re-rating of the stock.
• Strategic Pivot: The merger and subsequent name change to TuHURA Biosciences, Inc. (HURA) repositioned the company from a broad, early-stage mitochondrial-based therapeutics platform to a focused, late-stage immune-oncology player. Investors are buying into this new, more defined strategy.
• Low Market Capitalization: With a market cap around $1.19 million in early 2025, a small positive clinical trial outcome can send the stock soaring, offering a massive return for investors who got in early. This is the classic small-cap biotech speculation.

The company is expected to fund its operations through the third quarter of 2025. This is the real pressure point for investors. If you want a deeper dive into the cash runway, you should check out Breaking Down CohBar, Inc. (CWBR) Financial Health: Key Insights for Investors. Your investment is a countdown to clinical trial data and the next financing event.

Investment Strategies: Growth, Speculation, and Long-Term Holding

Given the company's profile-a clinical-stage biotech with no revenue and a Net Income (ttm) of -$12.55 million as of early 2025-the investment strategies employed are highly specialized.

• Long-Term Growth Holding: Insiders and strategic investors, like the largest individual shareholder Vijay Patel who owns about 16% of shares outstanding, are long-term holders. Their strategy is to hold through the volatility, believing in the multi-year path to commercialization of the oncology asset.
• Event-Driven Speculation: Many retail and short-term traders are playing the clinical trial milestones. They buy in anticipation of a positive data release from the Phase 3 trial or a new financing announcement, and then sell quickly on the news. This is pure speculation, not value investing.
• Venture Capital-Style Investing: Institutional investors who are not index funds treat this like a venture capital investment (VC). They are accepting the potential for a total loss in exchange for a 10x or 20x return if the drug is approved. They are less worried about the daily stock price of $1.93 per share (as of November 2025) and more focused on the probability of clinical success.

The stock is currently trading on the OTC Markets Group, which means it has lower liquidity and higher risk compared to a Nasdaq-listed stock. The high insider ownership and low institutional float defintely reinforce that this is a company where conviction in the science and the management team matters more than traditional financial metrics.

Next Step: Review the upcoming clinical trial milestones for IFx-Hu2.0 to map out potential volatility spikes over the next 12 months.

Institutional Ownership and Major Shareholders of CohBar, Inc. (CWBR)

If you're looking at CohBar, Inc. (CWBR) in late 2025, you need to understand that the company has fundamentally changed. Following its merger with Morphogenesis, Inc., the entity now operates as TuHURA Biosciences, Inc. (NASDAQ: HURA), shifting its focus entirely to immuno-oncology. This strategic pivot dramatically altered the investor profile, moving from a handful of institutional holders to a broader, but still relatively small, institutional base.

The institutional stake in the successor company is quite modest, sitting at just 13% of shares outstanding as of October 2025. To put that in perspective, in many large-cap biotech companies, institutional ownership often exceeds 80%. This low level is a critical piece of data, suggesting that professional money managers are still cautiously watching the execution of the new Phase 3 clinical strategy. Honestly, it's a high-risk, high-reward bet on the clinical pipeline, not a safe index allocation.

Top Institutional Investors and Their Holdings

Despite the low overall percentage, the institutional roster includes some of the biggest names in the asset management world. These are largely passive index funds, meaning their investment is driven by the company's inclusion in an index like the Russell 2000, not necessarily a conviction play on the oncology pipeline. The total institutional holding is approximately 6,945,972 shares, distributed across 124 institutional owners.

Here's the quick math on the largest institutional holders as of the latest filings, which primarily reflect passive index tracking:

• Vanguard Group Inc.: A massive index fund manager, holding a significant stake through various funds.
• BlackRock, Inc.: Another behemoth whose funds track small-cap benchmarks, making it a top holder.
• Geode Capital Management, Llc: Often appears in small-cap institutional lists due to its large-scale quantitative investment strategies.

These institutional positions are important because they provide a baseline of liquidity and stability, even if they aren't active participants in the company's strategic direction. You should defintely check out Breaking Down CohBar, Inc. (CWBR) Financial Health: Key Insights for Investors for a deeper dive into the balance sheet supporting this pipeline.

Changes in Ownership: A Look at Q3 2025 Activity

The most telling story in CohBar, Inc.'s (CWBR) ownership structure isn't the names of the buyers, but the balance of ownership. Institutional ownership is dwarfed by two other groups: insiders and the general public. As of October 2025, individual insiders-executives and directors-control a massive 43% of the company, while the general public (retail investors) holds another 42%.

What this ownership structure hides is the true driver of recent share price movement. The stock has seen a significant decline, dropping by over 36% between November 2024 and November 2025. This volatility is typical for a micro-cap biotech stock with a low institutional float, plus the overhang of a major strategic change. Because insiders hold the majority stake, they have the ultimate control over the corporate strategy and any future financing decisions, which is a key risk for minority shareholders.

Impact of Institutional Investors on Stock and Strategy

The role of institutional investors in CohBar, Inc. (CWBR) is currently more about market structure than corporate governance. When a company has such a low institutional float, the stock is inherently more volatile. You see larger price swings because a relatively small buy or sell order from a single institution can have an outsized impact on the trading volume and price, since there aren't many large, stable institutional blocks to absorb the shock.

Since the largest institutional holders are passive index funds, they are unlikely to actively push for changes in management or strategy. So, the company's direction-advancing the Phase 3 trial of IFx-2.0 in Merkel cell carcinoma and the Phase 2 study of TBS-2025-is firmly in the hands of the insider-led management team. The institutional presence simply validates the company's public listing status, but your investment thesis should be grounded in the clinical trial milestones, not the expectation of a large institutional activist stepping in to 'unlock value.'

Key Investors and Their Impact on CohBar, Inc. (CWBR)

You need to understand that CohBar, Inc. (CWBR)'s investor profile is now defined by two things: an extremely low institutional presence and a wave of recent insider buying. The company's strategic shift, which followed a merger, has essentially reset the shareholder base, making the actions of its officers the most powerful signal in the near term.

The Institutional Void: RVW Wealth and Low Float

The institutional investor landscape for CohBar, Inc. (CWBR) is remarkably thin, which dramatically increases the stock's volatility (beta). As of the latest filings, the company reports only 1 institutional owner, which is RVW Wealth, LLC. This single institution holds a total of 181,490 shares. When a stock's institutional ownership is this low-far below the average for a biotech firm-it means the public float (shares available for trading) is dominated by individual, or retail, investors. For a company with a market capitalization of roughly $1.19 million as of early 2025, this low institutional commitment is a critical risk factor, but it also means any significant institutional move, whether buying or selling, will have an outsized impact on the stock price.

• Low institutional ownership amplifies price swings.
• Retail investors drive most of the trading volume.
• RVW Wealth, LLC is the sole notable institutional holder.

Recent Insider Buying: The Confidence Signal

The most compelling recent investor activity comes directly from the company's executive suite. In October 2025, multiple CohBar, Inc. (CWBR) insiders executed open-market purchases. This is a powerful, tangible signal of confidence, as insiders only buy for one reason: they believe the stock is undervalued. This is defintely a move you should pay attention to.

Here's the quick math on the recent insider moves, all reported on October 7, 2025:

The collective insider investment, totaling over $73,850 in a single month, suggests a strong internal belief in the company's new direction, especially following the strategic pivot toward oncology. What this estimate hides is the emotional value of the trade: these are small-cap executives putting their own cash on the line, which often carries more weight than a large fund's passive 13F filing. It's a bet on the success of the new pipeline, a topic you can explore further in Breaking Down CohBar, Inc. (CWBR) Financial Health: Key Insights for Investors.

Investor Influence: Mapping Actions to Price

In a low-float, low-market-cap stock like CohBar, Inc. (CWBR), insider buying doesn't just signal confidence; it can directly influence short-term price movements. When institutional ownership is negligible, the market's perception is highly sensitive to any clear, actionable data point. The collective insider purchases represent a significant percentage of the daily trading volume (average volume is around 3.04K shares as of early 2025), so this buying pressure can create a floor under the stock price and attract speculative retail interest. This is not activist investing (Schedule 13D), which typically involves demanding board or strategy changes, but rather a strong, passive accumulation (Schedule 13G-style accumulation by officers) that signals alignment between management and shareholders.

The action for you is clear: track the Form 4 filings for any subsequent insider sales. A continuation of purchases is a green light; a sudden sale would be a red flag that changes the entire risk calculation.

Market Impact and Investor Sentiment

You're looking at CohBar, Inc. (CWBR) because the name is in flux, the stock is volatile, and you want to know who's sticking around for the long game. The direct takeaway is that investor sentiment is highly speculative, shifting from a focus on mitochondrial therapeutics to a high-risk, high-reward immuno-oncology play following the merger with Morphogenesis, Inc.

The company, now operating as the combined entity TuHURA Biosciences, Inc., has a market capitalization hovering around $1.19 million as of early 2025, reflecting its pre-revenue, clinical-stage status and the significant corporate restructuring risk. This low valuation suggests the market is pricing in the substantial execution risk inherent in a Phase 2/3 biotech pipeline. Honestly, this is a binary bet for most investors: either the lead asset succeeds, or the equity is near worthless.

Investor sentiment is best described as a cautious 'Hold Candidate,' which is the assessment given by some platforms as of April 2025. This is not a vote of confidence, but a signal to wait for clearer clinical data. The institutional interest is minimal, with only 1 institutional owner reporting a position, the largest being RVW Wealth, LLC, holding a total of 181,490 shares. This low institutional footprint is typical for a micro-cap stock trading on the OTC Markets Group (OTCMKTS) after its delisting from Nasdaq.

• Institutional ownership is low, signaling high-risk tolerance.
• Retail investors hold the majority of the public float.
• Sentiment hinges entirely on clinical trial results.

Recent Market Reactions and Ownership Dynamics

The most significant recent market reaction was the fallout from the November 2023 delisting notice from Nasdaq, which forced the stock onto the over-the-counter market. This move, plus the subsequent merger, completely redefined the investor base. The stock price was trading around $0.410 per share as of April 22, 2025, a dramatic drop from its 52-week high of $1.00, showing the market's punitive reaction to the corporate uncertainty and the shift in strategy.

The merger with Morphogenesis, Inc. fundamentally altered the ownership structure. CohBar shareholders now own approximately 15% of the combined company, with the Morphogenesis shareholders holding the remaining 85%. Here's the quick math: the institutional ownership of the new entity is estimated at around 35%, with insiders and strategic entities holding about 15%, leaving a substantial ~50% in the public float, primarily held by retail investors. This high retail float means the stock can be prone to sharp, liquidity-driven price swings, especially on minor news.

Analyst Perspectives: Why the Low Price?

The analyst community has largely stepped back, which is common for a delisted micro-cap. You won't find a consensus price target from major investment banks because the stock doesn't meet their liquidity or market capitalization thresholds. What we do see is a technical assessment that often flags the stock as a 'Hold Candidate' because of the low liquidity; technical analysis is defintely hidden due to insufficient data.

The core analyst perspective, though often unstated in formal reports, is simple: the company is currently valued on its cash and the option value of its pipeline, not on revenue. For the fiscal year ended December 31, 2023, the last comprehensive report as CohBar, Inc. showed $0 in revenue, with Research and Development (R&D) expenses at approximately $4.9 million and General and Administrative (G&A) expenses at approximately $6.5 million. This burn rate is what the new entity must manage. The investment thesis is entirely dependent on the successful, rapid advancement of the acquired Phase 2/3 asset, IFx-Hu2.0, in the immuno-oncology space, which you can read more about here: Breaking Down CohBar, Inc. (CWBR) Financial Health: Key Insights for Investors. What this estimate hides is the potential for massive dilution if the company needs to raise capital before a major clinical milestone is met.