Cognition Therapeutics (NASDAQ:CGTX) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Cognition Therapeutics (NASDAQ:CGTX) from a hold rating to a sell rating in a research report report published on Saturday morning.

Other equities analysts have also issued reports about the company. HC Wainwright reissued a “buy” rating on shares of Cognition Therapeutics in a research report on Thursday. Weiss Ratings reaffirmed 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cognition Therapeutics has an average rating of “Moderate Buy” and an average target price of $3.33.

Cognition Therapeutics Trading Down 2.9%

Shares of NASDAQ CGTX opened at $1.01 on Friday. Cognition Therapeutics has a 12-month low of $0.55 and a 12-month high of $3.83. The company has a market cap of $96.04 million, a P/E ratio of -5.94 and a beta of 1.77. The stock has a fifty day moving average price of $1.10 and a 200 day moving average price of $1.11.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. On average, sell-side analysts forecast that Cognition Therapeutics will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CGTX. Northwestern Mutual Wealth Management Co. boosted its holdings in Cognition Therapeutics by 11,695.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company’s stock valued at $2,781,000 after purchasing an additional 2,042,815 shares during the last quarter. Vanguard Group Inc. increased its holdings in Cognition Therapeutics by 105.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock worth $3,620,000 after purchasing an additional 1,377,263 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Cognition Therapeutics in the 2nd quarter valued at approximately $1,451,000. Acadian Asset Management LLC raised its position in shares of 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 in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Cognition Therapeutics during the 3rd quarter valued at approximately $757,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

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.