Cognition Therapeutics (NASDAQ:CGTX) Shares Up 3.3% – What’s Next?

Cognition Therapeutics, Inc. (NASDAQ:CGTX)’s share price was up 3.3% on Monday . The stock traded as high as $0.9738 and last traded at $0.9494. Approximately 411,322 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 1,312,494 shares. The stock had previously closed at $0.9195.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of Cognition Therapeutics in a research note on Monday, June 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Cognition Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $3.33.

Cognition Therapeutics Trading Up 3.3%

The firm has a market capitalization of $84.97 million, a PE ratio of -3.96 and a beta of 1.75. The stock’s 50 day moving average price is $1.17 and its two-hundred day moving average price is $1.15.

Cognition Therapeutics (NASDAQ:CGTX) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Analysts expect that Cognition Therapeutics, Inc. will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On Cognition Therapeutics

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position in shares of Cognition Therapeutics by 814.1% in the first quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock valued at $422,000 after acquiring an additional 897,353 shares in the last quarter. Vanguard Group Inc. increased its position in Cognition Therapeutics by 105.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock worth $3,620,000 after purchasing an additional 1,377,263 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in Cognition Therapeutics in the 3rd quarter valued at about $27,000. Tocqueville Asset Management L.P. raised its stake in Cognition Therapeutics by 470.2% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 162,500 shares of the company’s stock valued at $219,000 after purchasing an additional 134,000 shares during the last quarter. Finally, Private Management Group Inc. purchased a new position in Cognition Therapeutics in the 3rd quarter valued at about $32,000. 43.35% of the stock is 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.