Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $3.3333.

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Cognition Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Cognition Therapeutics in a research report on Thursday, December 4th. Brookline Capital Acquisition upgraded Cognition Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, B. Riley Financial reissued a “buy” rating and issued a $3.00 price target (up from $2.00) on shares of Cognition Therapeutics in a report on Friday, November 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. DAVENPORT & Co LLC purchased a new stake in shares of Cognition Therapeutics during the third quarter valued at $3,631,000. Northwestern Mutual Wealth Management Co. lifted its position in Cognition Therapeutics by 11,695.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company’s stock worth $2,781,000 after acquiring an additional 2,042,815 shares during the period. Vanguard Group Inc. grew its stake in Cognition Therapeutics by 105.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock valued at $3,620,000 after purchasing an additional 1,377,263 shares during the last quarter. Acadian Asset Management LLC grew its stake in Cognition Therapeutics by 814.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock valued at $422,000 after purchasing an additional 897,353 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Cognition Therapeutics in the third quarter valued at about $757,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Stock Performance

NASDAQ:CGTX opened at $1.10 on Monday. The company’s 50-day simple moving average is $1.28 and its 200-day simple moving average is $1.61. Cognition Therapeutics has a fifty-two week low of $0.22 and a fifty-two week high of $3.83. The stock has a market capitalization of $97.10 million, a P/E ratio of -2.29 and a beta of 1.25.

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.