Chardan Capital Reaffirms Buy Rating for Cognition Therapeutics (NASDAQ:CGTX)

Chardan Capital reissued their buy rating on shares of Cognition Therapeutics (NASDAQ:CGTX) in a research note released on Friday,Benzinga reports. The brokerage currently has a $11.00 price target on the stock.

Several other research firms also recently issued reports on CGTX. B. Riley restated a “neutral” rating and set a $1.00 price objective (down previously from $5.00) on shares of Cognition Therapeutics in a report on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Cognition Therapeutics in a research report on Monday, November 4th. Finally, Cantor Fitzgerald lowered shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Cognition Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $8.00.

Cognition Therapeutics Stock Down 9.9 %

Shares of NASDAQ CGTX opened at $0.46 on Friday. The stock’s fifty day simple moving average is $0.50 and its 200 day simple moving average is $1.20. The stock has a market capitalization of $19.16 million, a price-to-earnings ratio of -0.48 and a beta of 1.34. Cognition Therapeutics has a 52-week low of $0.34 and a 52-week high of $2.95.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bangor Savings Bank lifted its position in Cognition Therapeutics by 41.6% in the 2nd quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock worth $56,000 after buying an additional 10,000 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Cognition Therapeutics by 33.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock worth $159,000 after acquiring an additional 24,050 shares during the last quarter. CM Management LLC raised its holdings in shares of Cognition Therapeutics by 14.3% during the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after acquiring an additional 25,000 shares in the last quarter. Sigma Planning Corp boosted its position in Cognition Therapeutics by 14.6% during the third quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock valued at $92,000 after purchasing an additional 25,050 shares during the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new position in Cognition Therapeutics in the first quarter valued at about $47,000. 43.35% of the stock is owned by hedge funds and other institutional investors.

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, which is in Phase 2 clinical trial for the treatment of Alzheimer's disease, as well as geographic atrophy secondary to dry age-related macular degeneration and synucleinopathies, such as dementia with Lewy bodies.