Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Up 46.7% in April

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 220,300 shares, a growth of 46.7% from the March 31st total of 150,200 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 200,700 shares, the days-to-cover ratio is presently 1.1 days.

Cognition Therapeutics Price Performance

Shares of NASDAQ CGTX traded down $0.02 during trading on Monday, hitting $1.93. 96,931 shares of the company traded hands, compared to its average volume of 193,409. The business’s fifty day moving average is $1.93 and its 200 day moving average is $1.75. Cognition Therapeutics has a fifty-two week low of $0.90 and a fifty-two week high of $3.49.

Cognition Therapeutics (NASDAQ:CGTX) last posted its quarterly earnings results on Tuesday, March 26th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.11. Equities research analysts anticipate that Cognition Therapeutics will post -0.98 earnings per share for the current fiscal year.

Institutional Trading of Cognition Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Twin Focus Capital Partners LLC purchased a new position in Cognition Therapeutics during the fourth quarter worth about $173,000. Texas Capital Bank Wealth Management Services Inc bought a new position in Cognition Therapeutics in the 4th quarter valued at $102,000. Steward Financial Group LLC purchased a new stake in shares of Cognition Therapeutics during the 3rd quarter valued at $58,000. Finally, Sigma Planning Corp purchased a new position in shares of Cognition Therapeutics in the 4th quarter worth about $53,000. Institutional investors own 43.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CGTX shares. B. Riley reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Cognition Therapeutics in a research note on Thursday, March 28th. Oppenheimer reiterated an “outperform” rating and set a $9.00 price target on shares of Cognition Therapeutics in a report on Wednesday, March 27th.

About Cognition Therapeutics

Cognition Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina. Its lead product candidate is CT1812, an orally delivered molecule modulator designed to penetrate the blood-brain barrier and bind selectively to the S2R complex for the treatment of Alzheimer's disease.