Cognition Therapeutics, Inc. (NASDAQ:CGTX) Given Average Rating of “Moderate Buy” by Analysts

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have been given a consensus rating of “Moderate Buy” by the four brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $3.3333.

Several equities research analysts have commented on the company. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Cognition Therapeutics in a report on Monday, June 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Wednesday, June 24th.

Institutional Trading of Cognition Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CGTX. Vanguard Group Inc. raised its holdings in Cognition Therapeutics by 105.6% in the third quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock worth $3,620,000 after buying an additional 1,377,263 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cognition Therapeutics by 11,695.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company’s stock valued at $2,781,000 after buying an additional 2,042,815 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Cognition Therapeutics by 15.2% during the first quarter. Renaissance Technologies LLC now owns 1,117,136 shares of the company’s stock valued at $848,000 after buying an additional 147,623 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Cognition Therapeutics by 814.1% during the first quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock valued at $422,000 after acquiring an additional 897,353 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Cognition Therapeutics by 22.6% during the fourth quarter. Geode Capital Management LLC now owns 873,954 shares of the company’s stock valued at $1,180,000 after acquiring an additional 161,227 shares in the last quarter. 43.35% of the stock is currently owned by institutional investors.

Cognition Therapeutics Stock Performance

CGTX stock opened at $1.06 on Thursday. The firm has a 50 day moving average price of $1.13 and a 200-day moving average price of $1.13. Cognition Therapeutics has a 52-week low of $0.55 and a 52-week high of $3.83. The firm has a market capitalization of $94.87 million, a price-to-earnings ratio of -4.42 and a beta of 1.77.

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