Cortexyme (NASDAQ:CRTX) Shares Up 14%

Cortexyme, Inc. (NASDAQ:CRTX) shot up 14% during trading on Wednesday . The company traded as high as $62.00 and last traded at $61.07, 170,861 shares were traded during trading. An increase of 1% from the average session volume of 169,632 shares. The stock had previously closed at $53.59.

A number of research firms have recently commented on CRTX. BidaskClub lowered Cortexyme from a “buy” rating to a “hold” rating in a research report on Saturday, February 1st. Zacks Investment Research lowered Cortexyme from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Cortexyme has a consensus rating of “Hold” and a consensus price target of $40.00.

The stock has a 50-day moving average price of $53.59 and a 200 day moving average price of $34.45.

Cortexyme (NASDAQ:CRTX) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.37) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.37). On average, equities research analysts predict that Cortexyme, Inc. will post -1.51 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp acquired a new position in shares of Cortexyme during the second quarter worth approximately $991,000. BlackRock Inc. acquired a new position in shares of Cortexyme during the second quarter worth approximately $5,926,000. Vanguard Group Inc. acquired a new position in shares of Cortexyme during the second quarter worth approximately $7,428,000. Morgan Stanley acquired a new position in shares of Cortexyme during the second quarter worth approximately $1,970,000. Finally, State Street Corp lifted its holdings in shares of Cortexyme by 32.2% during the third quarter. State Street Corp now owns 50,829 shares of the biopharmaceutical company’s stock worth $1,267,000 after buying an additional 12,384 shares during the last quarter. 20.62% of the stock is currently owned by institutional investors.

About Cortexyme (NASDAQ:CRTX)

Cortexyme, Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutics for Alzheimer's disease and other degenerative disorders. Its lead drug candidate is COR388, an orally-administered brain-penetrating small molecule gingipain inhibitor, which has completed Phase 1a and Phase 1b clinical trials for use in patients with mild to moderate Alzheimer's disease.

Featured Article: How accurate is the Rule of 72?

Receive News & Ratings for Cortexyme Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cortexyme and related companies with MarketBeat.com's FREE daily email newsletter.