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

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $3.3333.

CGTX has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Monday, December 29th. B. Riley Financial restated a “buy” rating and issued a $3.00 price target (up from $2.00) on shares of Cognition Therapeutics in a report on Friday, November 21st. Wall Street Zen upgraded shares of Cognition Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Cognition Therapeutics in a report on Thursday, December 4th. Finally, Brookline Capital Acquisition raised shares of Cognition Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 3rd.

Cognition Therapeutics Stock Down 1.0%

CGTX stock opened at $1.03 on Monday. The stock has a market capitalization of $90.92 million, a price-to-earnings ratio of -2.15 and a beta of 1.25. Cognition Therapeutics has a 52-week low of $0.22 and a 52-week high of $3.83. The stock’s fifty day simple moving average is $1.23 and its 200-day simple moving average is $1.59.

Hedge Funds Weigh In On Cognition Therapeutics

A number of hedge funds have recently made changes to their positions in CGTX. Acadian Asset Management LLC grew its stake in shares of Cognition Therapeutics by 814.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock valued at $422,000 after buying an additional 897,353 shares during the period. DAVENPORT & Co LLC acquired a new position in Cognition Therapeutics in the third quarter valued at $3,631,000. CWA Asset Management Group LLC acquired a new position in Cognition Therapeutics in the third quarter valued at $34,000. McAdam LLC purchased a new stake in Cognition Therapeutics during the third quarter valued at about $97,000. Finally, Bryn Mawr Trust Advisors LLC grew its position in Cognition Therapeutics by 69.1% during the third quarter. Bryn Mawr Trust Advisors LLC now owns 39,466 shares of the company’s stock valued at $53,000 after acquiring an additional 16,129 shares during the period. Institutional investors and hedge funds own 43.35% of the company’s stock.

Cognition Therapeutics Company Profile

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.