Cognition Therapeutics (NASDAQ:CGTX) Announces Quarterly Earnings Results

Cognition Therapeutics (NASDAQ:CGTX) posted its earnings results on Thursday. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01, Zacks reports.

Cognition Therapeutics Stock Performance

CGTX stock remained flat at $1.66 during mid-day trading on Friday. The company’s stock had a trading volume of 1,029,681 shares, compared to its average volume of 1,371,319. The firm has a market cap of $122.04 million, a PE ratio of -3.46 and a beta of 1.23. Cognition Therapeutics has a fifty-two week low of $0.22 and a fifty-two week high of $3.83. The company has a fifty day simple moving average of $1.78 and a 200 day simple moving average of $1.08.

Institutional Trading of Cognition Therapeutics

A hedge fund recently raised its stake in Cognition Therapeutics stock. Acadian Asset Management LLC grew its position in Cognition Therapeutics, Inc. (NASDAQ:CGTX) by 814.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,007,586 shares of the company’s stock after purchasing an additional 897,353 shares during the period. Acadian Asset Management LLC owned about 1.63% of Cognition Therapeutics worth $422,000 at the end of the most recent reporting period. Institutional investors own 43.35% of the company’s stock.

Analyst Ratings Changes

CGTX has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Cognition Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cognition Therapeutics in a report on Wednesday, October 8th. Finally, Chardan Capital reissued a “buy” rating and set a $4.00 price objective on shares of Cognition Therapeutics in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2.83.

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.