Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have been given a consensus rating of “Moderate Buy” by the five brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $3.3333.

CGTX has been the subject of a number of research reports. B. Riley reiterated a “buy” rating and set a $3.00 price target (up from $2.00) on shares of Cognition Therapeutics in a research report on Friday. Wall Street Zen raised shares of Cognition Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Tuesday. Chardan Capital reissued a “buy” rating and set a $4.00 price objective on shares of Cognition Therapeutics in a research note on Friday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of Cognition Therapeutics in a research note on Wednesday.

Cognition Therapeutics Stock Up 4.5%

CGTX stock traded up $0.06 on Friday, reaching $1.39. 916,768 shares of the company’s stock were exchanged, compared to its average volume of 1,075,655. Cognition Therapeutics has a twelve month low of $0.22 and a twelve month high of $3.83. The stock has a fifty day moving average of $1.60 and a 200-day moving average of $1.15. The firm has a market cap of $122.70 million, a PE ratio of -2.90 and a beta of 1.23.

Cognition Therapeutics (NASDAQ:CGTX) last issued its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. On average, equities research analysts predict that Cognition Therapeutics will post -0.8 EPS for the current fiscal year.

Institutional Trading of Cognition Therapeutics

A number of large investors have recently made changes to their positions in CGTX. DAVENPORT & Co LLC purchased a new stake in shares of Cognition Therapeutics during the third quarter worth about $3,631,000. Vanguard Group Inc. grew its stake in Cognition Therapeutics by 105.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock worth $3,620,000 after acquiring an additional 1,377,263 shares during the period. Acadian Asset Management LLC raised its holdings in Cognition Therapeutics by 814.1% in the 1st 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 during the last quarter. Chescapmanager LLC lifted its stake in shares of Cognition Therapeutics by 98.1% during the 3rd quarter. Chescapmanager LLC now owns 997,029 shares of the company’s stock worth $1,346,000 after purchasing an additional 493,770 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Cognition Therapeutics during the third quarter worth $757,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

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.