Cognition Therapeutics (NASDAQ:CGTX) Trading Down 1.7% – What’s Next?

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was down 1.7% on Wednesday . The stock traded as low as $1.11 and last traded at $1.13. Approximately 2,358,347 shares traded hands during trading, an increase of 14% from the average daily volume of 2,060,177 shares. The stock had previously closed at $1.15.

Analyst Ratings Changes

Several analysts have recently issued reports on CGTX shares. Chardan Capital reaffirmed a “buy” rating and set a $4.00 price objective on shares of Cognition Therapeutics in a report on Friday, March 27th. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Cognition Therapeutics in a report on Monday, June 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cognition Therapeutics has an average rating of “Moderate Buy” and an average target price of $3.33.

Cognition Therapeutics Stock Performance

The stock’s fifty day moving average is $1.24 and its 200 day moving average is $1.20. The stock has a market cap of $104.71 million, a P/E ratio of -4.88 and a beta of 1.75.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. Equities research analysts predict that Cognition Therapeutics, Inc. will post -0.32 EPS for the current year.

Institutional Trading of Cognition Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. boosted its position in shares of Cognition Therapeutics by 34.7% during the third quarter. Raymond James Financial Inc. now owns 29,641 shares of the company’s stock valued at $40,000 after buying an additional 7,641 shares during the period. Gamco Investors INC. ET AL bought a new position in shares of Cognition Therapeutics during the third quarter valued at approximately $27,000. Essex Financial Services Inc. purchased a new stake in shares of Cognition Therapeutics in the fourth quarter worth approximately $27,000. Private Management Group Inc. bought a new stake in shares of Cognition Therapeutics during the 3rd quarter worth approximately $32,000. Finally, Marshall Wace LLP bought a new stake in shares of Cognition Therapeutics during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

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.