Cognition Therapeutics (NASDAQ:CGTX) Posts Earnings Results, Beats Expectations By $0.01 EPS

Cognition Therapeutics (NASDAQ:CGTX) issued its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01, FiscalAI reports.

Cognition Therapeutics Stock Up 4.3%

CGTX stock traded up $0.05 during trading on Friday, reaching $1.21. 693,484 shares of the company’s stock were exchanged, compared to its average volume of 1,087,619. The firm has a market cap of $108.11 million, a PE ratio of -5.04 and a beta of 1.81. The company’s fifty day moving average price is $1.06 and its 200-day moving average price is $1.32. Cognition Therapeutics has a 1-year low of $0.22 and a 1-year high of $3.83.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. upgraded Cognition Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Friday, March 27th. Finally, Chardan Capital restated a “buy” rating and set a $4.00 price objective on shares of Cognition Therapeutics in a research report on Friday, March 27th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cognition Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $3.33.

Institutional Trading of Cognition Therapeutics

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Cognition Therapeutics by 105.6% in the third quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock valued at $3,620,000 after buying an additional 1,377,263 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Cognition Therapeutics by 814.1% in the first quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock valued at $422,000 after buying an additional 897,353 shares during the period. Renaissance Technologies LLC raised its position in shares of Cognition Therapeutics by 35.9% during the fourth quarter. Renaissance Technologies LLC now owns 969,513 shares of the company’s stock worth $1,309,000 after purchasing an additional 256,013 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cognition Therapeutics by 22.6% during the fourth quarter. Geode Capital Management LLC now owns 873,954 shares of the company’s stock valued at $1,180,000 after purchasing an additional 161,227 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Cognition Therapeutics during the third quarter valued at $757,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

About Cognition Therapeutics

Cognition Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing disease-modifying therapies for neurodegenerative disorders, with an emphasis on Alzheimer’s disease. The company’s lead investigational candidate, CT1812, is an oral small molecule that antagonizes the sigma-2 receptor complex to protect synapses from amyloid-beta oligomer toxicity. By targeting a novel mechanism of action, Cognition Therapeutics aims to slow or reverse cognitive decline in patients living with Alzheimer’s disease.

CT1812 has successfully completed Phase 1 safety studies and preliminary Phase 2a trials, and is currently being evaluated in multiple Phase 2 clinical studies across North America and Europe in patients with mild-to-moderate Alzheimer’s disease.