Cognition Therapeutics (NASDAQ:CGTX) Shares Down 0.6% – Should You Sell?

Cognition Therapeutics, Inc. (NASDAQ:CGTX) shares dropped 0.6% during trading on Wednesday . The company traded as low as $1.53 and last traded at $1.58. Approximately 1,100,492 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 1,855,902 shares. The stock had previously closed at $1.59.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Cognition Therapeutics in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Cognition Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Finally, Chardan Capital restated a “buy” rating and set a $4.00 target price on shares of Cognition Therapeutics in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2.83.

Cognition Therapeutics Price Performance

The company has a market capitalization of $116.17 million, a PE ratio of -2.36 and a beta of 1.19. The company has a 50-day moving average of $1.92 and a two-hundred day moving average of $1.01.

Cognition Therapeutics (NASDAQ:CGTX) last released its earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. As a group, research analysts anticipate that Cognition Therapeutics, Inc. will post -0.8 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northeast Financial Consultants Inc boosted its position in shares of Cognition Therapeutics by 158.6% during the first quarter. Northeast Financial Consultants Inc now owns 63,351 shares of the company’s stock worth $27,000 after acquiring an additional 38,851 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in Cognition Therapeutics in the third quarter worth about $34,000. McAdam LLC bought a new position in shares of Cognition Therapeutics during the 3rd quarter valued at approximately $97,000. CM Management LLC increased its position in Cognition Therapeutics by 100.0% during the first quarter. CM Management LLC now owns 400,000 shares of the company’s stock valued at $168,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Cognition Therapeutics by 814.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock valued at $422,000 after purchasing an additional 897,353 shares during the last quarter. 43.35% of the stock is currently owned by institutional investors.

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.