Short Interest in Cognition Therapeutics, Inc. (NASDAQ:CGTX) Declines By 7.7%

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 490,700 shares, a decrease of 7.7% from the September 30th total of 531,400 shares. Based on an average daily trading volume, of 1,200,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.5% of the company’s stock are short sold.

Institutional Trading of Cognition Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. purchased a new stake in Cognition Therapeutics during the 1st quarter valued at approximately $1,183,000. Hohimer Wealth Management LLC bought a new stake in Cognition Therapeutics in the 1st quarter valued at $410,000. CM Management LLC purchased a new stake in Cognition Therapeutics in the 1st quarter worth $318,000. Levin Capital Strategies L.P. bought a new position in shares of Cognition Therapeutics during the 1st quarter valued at about $55,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Cognition Therapeutics during the 1st quarter valued at about $47,000. Institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Stock Down 0.2 %

Shares of Cognition Therapeutics stock traded down $0.00 during trading hours on Friday, reaching $0.47. 144,326 shares of the stock traded hands, compared to its average volume of 498,788. Cognition Therapeutics has a one year low of $0.34 and a one year high of $2.95. The firm has a market capitalization of $18.91 million, a price-to-earnings ratio of -0.50 and a beta of 1.36. The company has a 50 day moving average price of $0.54 and a 200 day moving average price of $1.32.

Cognition Therapeutics (NASDAQ:CGTX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Sell-side analysts anticipate that Cognition Therapeutics will post -0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CGTX. HC Wainwright lowered their price objective on Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Chardan Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Cognition Therapeutics in a report on Thursday. Cantor Fitzgerald downgraded Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Finally, B. Riley restated a “neutral” rating and set a $1.00 target price (down previously from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

About Cognition Therapeutics

Cognition Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina. Its lead product candidate is CT1812, an orally delivered molecule modulator designed to penetrate the blood-brain barrier and bind selectively to the S2R complex, which is in Phase 2 clinical trial for the treatment of Alzheimer's disease, as well as geographic atrophy secondary to dry age-related macular degeneration and synucleinopathies, such as dementia with Lewy bodies.