Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives $3.33 Average PT from Brokerages

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has been assigned an average recommendation of “Moderate Buy” from the four analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $3.3333.

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Friday, March 27th. Chardan Capital restated a “buy” rating and set a $4.00 price objective on shares of Cognition Therapeutics in a report on Friday, March 27th.

Cognition Therapeutics Price Performance

CGTX opened at $1.26 on Wednesday. Cognition Therapeutics has a fifty-two week low of $0.25 and a fifty-two week high of $3.83. The company’s 50-day moving average is $1.17 and its 200 day moving average is $1.24. The firm has a market capitalization of $112.77 million, a P/E ratio of -5.25 and a beta of 1.75.

Cognition Therapeutics (NASDAQ:CGTX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. On average, equities research analysts expect that Cognition Therapeutics will post -0.32 earnings per share for the current year.

Institutional Trading of Cognition Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC increased its holdings in Cognition Therapeutics by 6.8% during the fourth quarter. DAVENPORT & Co LLC now owns 2,871,836 shares of the company’s stock worth $3,877,000 after buying an additional 182,500 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Cognition Therapeutics by 105.6% in the third quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock worth $3,620,000 after purchasing an additional 1,377,263 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cognition Therapeutics by 11,695.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company’s stock worth $2,781,000 after purchasing an additional 2,042,815 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Cognition Therapeutics by 15.2% in the first quarter. Renaissance Technologies LLC now owns 1,117,136 shares of the company’s stock worth $848,000 after purchasing an additional 147,623 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Cognition Therapeutics by 814.1% in the first quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock worth $422,000 after purchasing an additional 897,353 shares in the last quarter. Hedge funds and other institutional investors own 43.35% of the company’s stock.

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.