Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Down 32.7% in March

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 1,420,000 shares, a drop of 32.7% from the February 28th total of 2,110,000 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 6,990,000 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. HC Wainwright decreased their target price on shares of Cognition Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Brookline Capital Management raised Cognition Therapeutics to a “strong-buy” rating in a report on Monday, January 27th. Chardan Capital cut their target price on Cognition Therapeutics from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, B. Riley raised Cognition Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $1.00 to $1.50 in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cognition Therapeutics presently has an average rating of “Buy” and an average target price of $7.13.

Institutional Investors Weigh In On Cognition Therapeutics

Hedge funds have recently made changes to their positions in the business. BIOS Capital Management LP bought a new position in Cognition Therapeutics during the fourth quarter valued at about $4,208,000. Voss Capital LP bought a new position in shares of Cognition Therapeutics during the 4th quarter valued at approximately $351,000. Sigma Planning Corp increased its stake in shares of Cognition Therapeutics by 211.6% during the 4th quarter. Sigma Planning Corp now owns 614,490 shares of the company’s stock worth $431,000 after purchasing an additional 417,300 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Cognition Therapeutics in the 3rd quarter worth approximately $27,000. Finally, Two Sigma Investments LP lifted its stake in Cognition Therapeutics by 372.2% in the fourth quarter. Two Sigma Investments LP now owns 53,691 shares of the company’s stock valued at $38,000 after purchasing an additional 42,321 shares during the last quarter. 43.35% of the stock is currently owned by institutional investors.

Cognition Therapeutics Stock Performance

NASDAQ:CGTX traded down $0.04 on Friday, hitting $0.42. The stock had a trading volume of 430,544 shares, compared to its average volume of 2,501,655. Cognition Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.95. The firm’s fifty day simple moving average is $0.56 and its two-hundred day simple moving average is $0.54. The stock has a market cap of $17.27 million, a P/E ratio of -0.43 and a beta of 1.03.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). During the same period last year, the company posted ($0.27) earnings per share. Equities research analysts predict that Cognition Therapeutics will post -0.8 EPS for the current year.

Cognition Therapeutics Company Profile

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.