Cognition Therapeutics (NASDAQ:CGTX) Rating Lowered to “Sell” at Wall Street Zen

Cognition Therapeutics (NASDAQ:CGTX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently issued reports on CGTX. Weiss Ratings restated a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Wednesday, June 24th. HC Wainwright reiterated a “buy” rating on shares of Cognition Therapeutics in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3.33.

Cognition Therapeutics Price Performance

Shares of CGTX stock opened at $1.01 on Friday. The firm has a 50 day moving average price of $1.10 and a two-hundred day moving average price of $1.11. The company has a market capitalization of $96.04 million, a PE ratio of -5.94 and a beta of 1.78. Cognition Therapeutics has a 12-month low of $0.55 and a 12-month high of $3.83.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. As a group, research analysts expect that Cognition Therapeutics will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Cognition Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Essex Financial Services Inc. bought a new stake in shares of Cognition Therapeutics during the 4th quarter valued at $27,000. Gamco Investors INC. ET AL acquired a new stake in shares of Cognition Therapeutics during the 3rd quarter worth $27,000. Private Management Group Inc. bought a new position in shares of Cognition Therapeutics in the third quarter worth $32,000. Bryn Mawr Trust Advisors LLC bought a new position in shares of Cognition Therapeutics in the second quarter worth $33,000. Finally, Marshall Wace LLP bought a new position in shares of Cognition Therapeutics in the fourth quarter worth $37,000. 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.