Cognition Therapeutics (NASDAQ:CGTX) Announces Earnings Results

Cognition Therapeutics (NASDAQ:CGTX) issued its earnings results on Thursday. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01, FiscalAI reports.

Cognition Therapeutics Stock Up 4.3%

CGTX traded up $0.05 during trading on Friday, reaching $1.21. The stock had a trading volume of 693,484 shares, compared to its average volume of 1,087,619. The firm has a market capitalization of $108.11 million, a price-to-earnings ratio of -5.04 and a beta of 1.81. Cognition Therapeutics has a 1-year low of $0.22 and a 1-year high of $3.83. The stock has a 50 day moving average of $1.06 and a two-hundred day moving average of $1.32.

Wall Street Analysts Forecast Growth

CGTX has been the topic of a number of analyst reports. raised shares of Cognition Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. Chardan Capital reiterated a “buy” rating and set a $4.00 price objective on shares of Cognition Therapeutics in a research report on Friday, March 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Friday, March 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cognition Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $3.33.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. increased its holdings in shares of Cognition Therapeutics by 18.5% in the fourth quarter. Tocqueville Asset Management L.P. now owns 192,500 shares of the company’s stock valued at $260,000 after buying an additional 30,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Cognition Therapeutics by 35.9% in the fourth quarter. Renaissance Technologies LLC now owns 969,513 shares of the company’s stock valued at $1,309,000 after buying an additional 256,013 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cognition Therapeutics by 22.6% in the fourth quarter. Geode Capital Management LLC now owns 873,954 shares of the company’s stock valued at $1,180,000 after buying an additional 161,227 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Cognition Therapeutics in the third quarter valued at $138,000. Finally, Millennium Management LLC bought a new position in shares of Cognition Therapeutics in the third quarter valued at $757,000. Institutional investors 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.