Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives $3.33 Consensus Target Price from Analysts

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have earned an average recommendation of “Moderate Buy” from the four research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.3333.

A number of brokerages have recently weighed in on CGTX. 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. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Cognition Therapeutics in a report on Monday, June 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Wednesday, June 24th.

Cognition Therapeutics Price Performance

Shares of NASDAQ:CGTX remained flat at $1.09 on Friday. 1,536,591 shares of the stock traded hands, compared to its average volume of 2,349,673. The stock has a market cap of $97.56 million, a price-to-earnings ratio of -4.54 and a beta of 1.75. Cognition Therapeutics has a 1-year low of $0.55 and a 1-year high of $3.83. The stock has a fifty day moving average price of $1.22 and a 200 day moving average price of $1.19.

Cognition Therapeutics (NASDAQ:CGTX) last issued its earnings results 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, sell-side analysts forecast that Cognition Therapeutics will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its holdings in Cognition Therapeutics by 15.2% in the first quarter. Renaissance Technologies LLC now owns 1,117,136 shares of the company’s stock valued at $848,000 after purchasing an additional 147,623 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Cognition Therapeutics by 56.3% in the first quarter. Sigma Planning Corp now owns 337,765 shares of the company’s stock worth $257,000 after buying an additional 121,600 shares during the last quarter. Essex Financial Services Inc. grew its holdings in Cognition Therapeutics by 100.0% during the first quarter. Essex Financial Services Inc. now owns 40,000 shares of the company’s stock worth $30,000 after acquiring an additional 20,000 shares during the period. Virtu Financial LLC acquired a new stake in Cognition Therapeutics during the fourth quarter worth about $54,000. Finally, XTX Topco Ltd purchased a new position in Cognition Therapeutics during the fourth quarter valued at approximately $50,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

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.