Cognition Therapeutics (NASDAQ:CGTX) Releases Quarterly Earnings Results

Cognition Therapeutics (NASDAQ:CGTX) issued its quarterly earnings results on Thursday. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01, FiscalAI reports.

Cognition Therapeutics Price Performance

NASDAQ CGTX traded up $0.05 during trading on Friday, reaching $1.21. 693,484 shares of the company’s stock were exchanged, compared to its average volume of 1,087,619. The business has a 50 day moving average price of $1.06 and a 200-day moving average price of $1.32. The stock has a market capitalization of $108.11 million, a P/E ratio of -5.04 and a beta of 1.81. Cognition Therapeutics has a fifty-two week low of $0.22 and a fifty-two week high of $3.83.

Institutional Investors Weigh In On Cognition Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL bought a new position in Cognition Therapeutics during the third quarter worth $27,000. Private Management Group Inc. acquired a new position in Cognition Therapeutics in the 3rd quarter valued at about $32,000. Marshall Wace LLP acquired a new position in Cognition Therapeutics in the 4th quarter valued at about $37,000. Raymond James Financial Inc. raised its holdings in Cognition Therapeutics by 34.7% in the 3rd quarter. Raymond James Financial Inc. now owns 29,641 shares of the company’s stock valued at $40,000 after acquiring an additional 7,641 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Cognition Therapeutics during the fourth quarter worth approximately $50,000. Institutional investors own 43.35% of the company’s stock.

Analyst Upgrades and Downgrades

CGTX has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Friday, March 27th. Chardan Capital reissued a “buy” rating and issued a $4.00 price objective on shares of Cognition Therapeutics in a report on Friday, March 27th. Finally, upgraded shares of Cognition Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.33.

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.