Cognition Therapeutics, Inc. (NASDAQ:CGTX) Sees Large Drop in Short Interest

Cognition Therapeutics, Inc. (NASDAQ:CGTXGet Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 150,200 shares, a decline of 34.2% from the March 15th total of 228,100 shares. Based on an average daily volume of 204,700 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. purchased a new position in shares of Cognition Therapeutics during the first quarter worth approximately $56,000. Frontier Wealth Management LLC acquired a new position in Cognition Therapeutics in the first quarter valued at $152,000. Worth Venture Partners LLC purchased a new stake in shares of Cognition Therapeutics in the first quarter valued at about $473,000. Vanguard Group Inc. boosted its stake in shares of Cognition Therapeutics by 465.7% during the third quarter. Vanguard Group Inc. now owns 401,203 shares of the company’s stock worth $762,000 after buying an additional 330,283 shares during the period. Finally, Two Sigma Investments LP purchased a new position in shares of Cognition Therapeutics during the third quarter worth about $46,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

Wall Street Analyst Weigh In

CGTX has been the topic of several recent analyst reports. B. Riley reiterated a “buy” rating and issued a $5.00 price target on shares of Cognition Therapeutics in a research note on Thursday, March 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $9.00 target price on shares of Cognition Therapeutics in a research report on Wednesday, March 27th.

Read Our Latest Report on CGTX

Cognition Therapeutics Stock Down 6.2 %

Shares of Cognition Therapeutics stock traded down $0.13 on Friday, hitting $1.96. The stock had a trading volume of 253,497 shares, compared to its average volume of 207,764. Cognition Therapeutics has a 52-week low of $0.90 and a 52-week high of $3.49. The company’s 50 day moving average price is $1.99 and its 200 day moving average price is $1.70.

Cognition Therapeutics Company Profile

(Get Free Report)

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 for the treatment of Alzheimer's disease.

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