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

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has been given an average recommendation of “Moderate Buy” by the four analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $3.3333.

Several equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Cognition Therapeutics in a research report on Monday, June 22nd. Chardan Capital restated a “buy” rating and set a $4.00 price target on shares of Cognition Therapeutics in a research report on Friday, March 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Wednesday, June 24th.

Institutional Investors Weigh In On Cognition Therapeutics

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in shares of Cognition Therapeutics by 15.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,117,136 shares of the company’s stock worth $848,000 after purchasing an additional 147,623 shares during the period. Sigma Planning Corp grew its holdings in Cognition Therapeutics by 56.3% during the first quarter. Sigma Planning Corp now owns 337,765 shares of the company’s stock valued at $257,000 after purchasing an additional 121,600 shares during the period. Essex Financial Services Inc. increased its position in Cognition Therapeutics by 100.0% in the first quarter. Essex Financial Services Inc. now owns 40,000 shares of the company’s stock worth $30,000 after buying an additional 20,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in Cognition Therapeutics in the fourth quarter worth $54,000. Finally, XTX Topco Ltd bought a new stake in shares of Cognition Therapeutics in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Stock Performance

Shares of CGTX remained flat at $1.17 on Friday. The company had a trading volume of 2,051,208 shares, compared to its average volume of 2,080,024. The firm has a market capitalization of $104.72 million, a PE ratio of -4.88 and a beta of 1.75. The business has a 50-day moving average price of $1.24 and a 200 day moving average price of $1.20. Cognition Therapeutics has a one year low of $0.35 and a one year high of $3.83.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. As a group, analysts forecast that Cognition Therapeutics will post -0.32 earnings per share for the current year.

About Cognition Therapeutics

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.