Short Interest in Cognition Therapeutics, Inc. (NASDAQ:CGTX) Rises By 724.0%

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 1,770,000 shares, an increase of 724.0% from the July 15th total of 214,800 shares. Based on an average daily volume of 871,300 shares, the short-interest ratio is presently 2.0 days. Approximately 5.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald lowered shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Chardan Capital assumed coverage on shares of Cognition Therapeutics in a research note on Thursday, June 6th. They set a “buy” rating and a $11.00 target price for the company. B. Riley reissued a “neutral” rating and set a $1.00 target price (down previously from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Rodman & Renshaw reissued a “buy” rating and set a $14.00 target price on shares of Cognition Therapeutics in a research note on Tuesday, July 2nd. Finally, HC Wainwright decreased their target price on shares of Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.67.

Cognition Therapeutics Trading Up 3.9 %

CGTX stock opened at $0.57 on Tuesday. Cognition Therapeutics has a 1 year low of $0.54 and a 1 year high of $2.95. The company has a fifty day simple moving average of $1.68 and a 200 day simple moving average of $1.90. The firm has a market cap of $22.78 million, a PE ratio of -0.62 and a beta of 1.46.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. During the same quarter last year, the business posted ($0.16) earnings per share. As a group, analysts forecast that Cognition Therapeutics will post -0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Cognition Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGTX. Tocqueville Asset Management L.P. acquired a new position in Cognition Therapeutics in the first quarter valued at approximately $47,000. Sigma Planning Corp acquired a new position in Cognition Therapeutics in the fourth quarter valued at approximately $53,000. Levin Capital Strategies L.P. acquired a new position in Cognition Therapeutics in the first quarter valued at approximately $55,000. Bangor Savings Bank lifted its holdings in Cognition Therapeutics by 41.6% in the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after buying an additional 10,000 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in Cognition Therapeutics in the fourth quarter valued at approximately $102,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

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.