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

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have earned an average recommendation of “Moderate Buy” from the four ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $3.3333.

Several research firms have weighed in on CGTX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Wednesday, June 24th. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Cognition Therapeutics in a report on Monday, June 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in Cognition Therapeutics by 814.1% in 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. Vanguard Group Inc. increased its position in Cognition Therapeutics by 105.6% during the third quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock worth $3,620,000 after buying an additional 1,377,263 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in Cognition Therapeutics in the third quarter valued at approximately $27,000. Tocqueville Asset Management L.P. raised its stake in Cognition Therapeutics by 470.2% in the third quarter. Tocqueville Asset Management L.P. now owns 162,500 shares of the company’s stock valued at $219,000 after buying an additional 134,000 shares during the period. Finally, Private Management Group Inc. acquired a new stake in shares of Cognition Therapeutics in the third quarter valued at approximately $32,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

Cognition Therapeutics Trading Up 1.8%

Shares of Cognition Therapeutics stock traded up $0.02 during trading hours on Thursday, reaching $0.92. 59,100 shares of the company’s stock were exchanged, compared to its average volume of 1,220,692. The company has a 50 day moving average of $1.16 and a two-hundred day moving average of $1.14. Cognition Therapeutics has a fifty-two week low of $0.55 and a fifty-two week high of $3.83. The stock has a market cap of $82.07 million, a P/E ratio of -3.80 and a beta of 1.75.

Cognition Therapeutics (NASDAQ:CGTX) last released 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. As a group, analysts expect that Cognition Therapeutics will post -0.32 earnings per share for the current fiscal year.

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.