Cognition Therapeutics, Inc. (NASDAQ:CGTX) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has been assigned an average recommendation of “Moderate Buy” from the four research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $3.33.

CGTX has been the subject of a number of recent research reports. Wall Street Zen cut Cognition Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Monday, September 21st. Finally, HC Wainwright reiterated a “buy” rating on shares of Cognition Therapeutics in a research report on Monday, October 5th.

Cognition Therapeutics Stock Performance

Cognition Therapeutics stock traded up $0.05 during midday trading on Friday, hitting $0.69. 282,194 shares of the company’s stock were exchanged, compared to its average volume of 605,701. The stock has a market cap of $65.33 million, a price-to-earnings ratio of -4.58 and a beta of 1.84. Cognition Therapeutics has a 12-month low of $0.55 and a 12-month high of $1.82. The firm’s 50 day simple moving average is $0.88 and its 200 day simple moving average is $1.05.

Cognition Therapeutics (NASDAQ:CGTX) last announced its earnings results on Thursday, November 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. On average, equities research analysts forecast that Cognition Therapeutics will post -0.30 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Lido Advisors LLC acquired a new stake in Cognition Therapeutics in the third quarter valued at about $44,000. StoneX Group Inc. acquired a new stake in shares of Cognition Therapeutics in the 3rd quarter valued at approximately $30,000. Sigma Planning Corp lifted its holdings in shares of Cognition Therapeutics by 7.3% in the 2nd quarter. Sigma Planning Corp now owns 362,265 shares of the company’s stock valued at $417,000 after buying an additional 24,500 shares during the period. Corient Private Wealth LP purchased a new stake in shares of Cognition Therapeutics in the second quarter valued at approximately $93,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Cognition Therapeutics in the second quarter valued at approximately $369,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

About Cognition Therapeutics

Cognition Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for neurodegenerative diseases. The company’s research centers on the sigma-2 receptor, also known as the sigma-2 receptor complex or PGRMC1, a target believed to play a role in the cellular mechanisms associated with synaptic dysfunction and neurodegeneration.

Cognition Therapeutics’ lead product candidate is CT1812, an orally administered small-molecule therapy designed to modulate the sigma-2 receptor complex.