Cognition Therapeutics (NASDAQ:CGTX) Announces Quarterly Earnings Results

Cognition Therapeutics (NASDAQ:CGTX) posted its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02, FiscalAI reports.

Cognition Therapeutics Price Performance

CGTX traded down $0.05 on Friday, reaching $1.08. The company’s stock had a trading volume of 900,909 shares, compared to its average volume of 733,238. Cognition Therapeutics has a 1 year low of $0.55 and a 1 year high of $3.83. The business’s 50 day moving average is $1.13 and its 200 day moving average is $1.12. The stock has a market cap of $96.66 million, a price-to-earnings ratio of -6.35 and a beta of 1.77.

Hedge Funds Weigh In On Cognition Therapeutics

A number of institutional investors have recently made changes to their positions in CGTX. Virtu Financial LLC purchased a new position in shares of Cognition Therapeutics during the 4th quarter valued at approximately $54,000. XTX Topco Ltd bought a new stake in shares of Cognition Therapeutics in the fourth quarter worth $50,000. OMERS ADMINISTRATION Corp acquired a new stake in Cognition Therapeutics in the fourth quarter valued at $215,000. Marshall Wace LLP acquired a new stake in Cognition Therapeutics in the fourth quarter valued at $37,000. Finally, Tocqueville Asset Management L.P. boosted its stake in Cognition Therapeutics by 18.5% during the 4th quarter. Tocqueville Asset Management L.P. now owns 192,500 shares of the company’s stock valued at $260,000 after acquiring an additional 30,000 shares during the last quarter. 43.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on CGTX shares. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Cognition Therapeutics in a research note on Monday, June 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.33.

Cognition Therapeutics Company Profile

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.