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

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $5.63.

A number of brokerages recently commented on CGTX. Chardan Capital dropped their target price on Cognition Therapeutics from $8.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. HC Wainwright dropped their price objective on shares of Cognition Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, May 27th.

Institutional Trading of Cognition Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CGTX. Acadian Asset Management LLC boosted its position in Cognition Therapeutics by 814.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock worth $422,000 after purchasing an additional 897,353 shares in the last quarter. Northeast Financial Consultants Inc lifted its stake in shares of Cognition Therapeutics by 158.6% in the 1st quarter. Northeast Financial Consultants Inc now owns 63,351 shares of the company’s stock valued at $27,000 after purchasing an additional 38,851 shares during the period. CM Management LLC boosted its holdings in Cognition Therapeutics by 100.0% during the first quarter. CM Management LLC now owns 400,000 shares of the company’s stock worth $168,000 after buying an additional 200,000 shares in the last quarter. Two Sigma Investments LP grew its position in Cognition Therapeutics by 372.2% during the fourth quarter. Two Sigma Investments LP now owns 53,691 shares of the company’s stock valued at $38,000 after buying an additional 42,321 shares during the period. Finally, Voss Capital LP purchased a new position in Cognition Therapeutics in the fourth quarter valued at $351,000. 43.35% of the stock is owned by institutional investors and hedge funds.

Cognition Therapeutics Price Performance

NASDAQ CGTX opened at $0.26 on Tuesday. The company has a market cap of $15.81 million, a price-to-earnings ratio of -0.34 and a beta of 0.75. The stock’s fifty day moving average price is $0.34 and its 200 day moving average price is $0.48. Cognition Therapeutics has a 1 year low of $0.22 and a 1 year high of $2.54.

Cognition Therapeutics (NASDAQ:CGTX) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Research analysts expect that Cognition Therapeutics will post -0.8 earnings per share for the current year.

About Cognition Therapeutics

Cognition Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina. Its lead product candidate is CT1812, an orally delivered molecule modulator designed to penetrate the blood-brain barrier and bind selectively to the S2R complex, which is in Phase 2 clinical trial for the treatment of Alzheimer's disease, as well as geographic atrophy secondary to dry age-related macular degeneration and synucleinopathies, such as dementia with Lewy bodies.