Cognition Therapeutics, Inc. (NASDAQ:CGTX) Sees Significant Decline in Short Interest

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 723,000 shares, a decrease of 11.4% from the October 31st total of 815,700 shares. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.1% of the shares of the company are sold short.

Cognition Therapeutics Stock Performance

Shares of CGTX stock remained flat at $0.40 during mid-day trading on Friday. The stock had a trading volume of 866,243 shares, compared to its average volume of 3,116,512. The business has a fifty day moving average price of $0.47 and a two-hundred day moving average price of $1.09. The stock has a market capitalization of $16.70 million, a P/E ratio of -0.41 and a beta of 1.34. Cognition Therapeutics has a 12-month low of $0.34 and a 12-month high of $2.95.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Cognition Therapeutics in a report on Wednesday. B. Riley reaffirmed a “neutral” rating and set a $1.00 price target (down from $5.00) on shares of Cognition Therapeutics in a research report on Tuesday, August 6th. Finally, Chardan Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Cognition Therapeutics in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Hedge Funds Weigh In On Cognition Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGTX. Virtu Financial LLC acquired a new stake in Cognition Therapeutics in the third quarter valued at $27,000. Bangor Savings Bank raised its position in shares of Cognition Therapeutics by 41.6% during the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock worth $56,000 after acquiring an additional 10,000 shares during the last quarter. Sigma Planning Corp lifted its stake in shares of Cognition Therapeutics by 14.6% in the third quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock worth $92,000 after acquiring an additional 25,050 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Cognition Therapeutics by 33.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after acquiring an additional 24,050 shares during the last quarter. Finally, CM Management LLC increased its position in Cognition Therapeutics by 14.3% during the 2nd quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $332,000 after purchasing an additional 25,000 shares during the period. 43.35% of the stock is currently owned by institutional investors and hedge funds.

Cognition Therapeutics Company Profile

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.