Cognition Therapeutics (NASDAQ:CGTX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Cognition Therapeutics (NASDAQ:CGTX) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other research firms also recently issued reports on CGTX. HC Wainwright restated a “buy” rating on shares of Cognition Therapeutics in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.33.

Cognition Therapeutics Stock Up 1.0%

CGTX stock opened at $1.02 on Friday. The business’s 50-day simple moving average is $1.10 and its 200 day simple moving average is $1.10. The company has a market cap of $96.99 million, a PE ratio of -6.00 and a beta of 1.78. Cognition Therapeutics has a twelve month low of $0.55 and a twelve month high of $3.83.

Cognition Therapeutics (NASDAQ:CGTX) last posted its earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. On average, equities research analysts anticipate that Cognition Therapeutics will post -0.3 EPS for the current 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. Northwestern Mutual Wealth Management Co. lifted its position in shares of Cognition Therapeutics by 11,695.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company’s stock worth $2,781,000 after purchasing an additional 2,042,815 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cognition Therapeutics by 105.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock valued at $3,620,000 after acquiring an additional 1,377,263 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Cognition Therapeutics in the second quarter valued at about $1,451,000. Acadian Asset Management LLC raised its holdings in Cognition Therapeutics by 814.1% during the first quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock worth $422,000 after acquiring an additional 897,353 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Cognition Therapeutics during the third quarter valued at approximately $757,000. 43.35% of the stock is owned by institutional investors and hedge funds.

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.