Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Average Rating of “Moderate Buy” from Brokerages

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has earned an average recommendation of “Moderate Buy” from the four analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $3.3333.

CGTX has been the subject of a number of analyst reports. Chardan Capital reiterated a “buy” rating and set a $4.00 price target on shares of Cognition Therapeutics in a research note on Friday, March 27th. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Cognition Therapeutics in a report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Wednesday, June 24th.

Cognition Therapeutics Stock Performance

CGTX stock remained flat at $1.17 during trading on Friday. The company had a trading volume of 2,051,208 shares, compared to its average volume of 2,080,024. The business’s fifty day simple moving average is $1.24 and its 200 day simple moving average is $1.20. Cognition Therapeutics has a fifty-two week low of $0.35 and a fifty-two week high of $3.83. The firm has a market capitalization of $104.72 million, a price-to-earnings ratio of -4.88 and a beta of 1.75.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. As a group, sell-side analysts predict that Cognition Therapeutics will post -0.32 EPS for the current year.

Hedge Funds Weigh In On Cognition Therapeutics

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in shares of Cognition Therapeutics by 15.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,117,136 shares of the company’s stock worth $848,000 after acquiring an additional 147,623 shares in the last quarter. Sigma Planning Corp lifted its position in shares of Cognition Therapeutics by 56.3% during the first quarter. Sigma Planning Corp now owns 337,765 shares of the company’s stock valued at $257,000 after purchasing an additional 121,600 shares in the last quarter. Essex Financial Services Inc. boosted its holdings in Cognition Therapeutics by 100.0% during the first quarter. Essex Financial Services Inc. now owns 40,000 shares of the company’s stock worth $30,000 after purchasing an additional 20,000 shares during the last quarter. Virtu Financial LLC purchased a new position in Cognition Therapeutics during the fourth quarter worth about $54,000. Finally, XTX Topco Ltd bought a new stake in Cognition Therapeutics in the 4th quarter worth about $50,000. 43.35% of the stock is owned by hedge funds and other institutional investors.

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.