Northwestern Mutual Wealth Management Co. Raises Stock Position in Cognition Therapeutics, Inc. $CGTX

Northwestern Mutual Wealth Management Co. raised its stake in shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) by 11,695.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,060,282 shares of the company’s stock after buying an additional 2,042,815 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cognition Therapeutics were worth $2,781,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in Cognition Therapeutics during the 3rd quarter valued at $25,000. Gamco Investors INC. ET AL purchased a new stake in shares of Cognition Therapeutics in the 3rd quarter worth about $27,000. Private Management Group Inc. purchased a new stake in shares of Cognition Therapeutics in the 3rd quarter worth about $32,000. Raymond James Financial Inc. grew its position in Cognition Therapeutics by 34.7% during the 3rd quarter. Raymond James Financial Inc. now owns 29,641 shares of the company’s stock valued at $40,000 after purchasing an additional 7,641 shares during the last quarter. Finally, Everhart Financial Group Inc. purchased a new stake in Cognition Therapeutics during the 3rd quarter valued at about $43,000. 43.35% of the stock is owned by hedge funds and other institutional investors.

Cognition Therapeutics Stock Performance

NASDAQ CGTX opened at $1.26 on Tuesday. Cognition Therapeutics, Inc. has a 12 month low of $0.22 and a 12 month high of $3.83. The stock has a market cap of $112.77 million, a price-to-earnings ratio of -5.25 and a beta of 1.81. The company’s 50 day moving average is $1.09 and its two-hundred day moving average is $1.27.

Cognition Therapeutics (NASDAQ:CGTX) last released its earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Sell-side analysts forecast that Cognition Therapeutics, Inc. will post -0.32 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on CGTX shares. Chardan Capital reissued a “buy” rating and set a $4.00 price objective on shares of Cognition Therapeutics in a research report on Friday, March 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Friday, March 27th. Finally, upgraded shares of Cognition Therapeutics to a “strong-buy” rating in a research note 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 stock. According to MarketBeat, the company has an average 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.