Cognition Therapeutics, Inc. (NASDAQ:CGTX) Sees Large Growth in Short Interest

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 208,100 shares, a growth of 15.2% from the June 15th total of 180,700 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily volume of 147,000 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CGTX shares. Rodman & Renshaw restated a “buy” rating and issued a $14.00 target price on shares of Cognition Therapeutics in a report on Tuesday, July 2nd. HC Wainwright assumed coverage on shares of Cognition Therapeutics in a report on Wednesday, May 29th. They issued a “buy” rating and a $10.00 price target on the stock. B. Riley restated a “buy” rating and issued a $5.00 price objective on shares of Cognition Therapeutics in a research report on Thursday, March 28th. Oppenheimer reissued an “outperform” rating and issued a $9.00 target price on shares of Cognition Therapeutics in a research note on Wednesday, March 27th. Finally, Chardan Capital began coverage on Cognition Therapeutics in a research note on Thursday, June 6th. They set a “buy” rating and a $11.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $9.17.

Institutional Investors Weigh In On Cognition Therapeutics

Several hedge funds have recently bought and sold shares of the business. Sigma Planning Corp bought a new position in shares of Cognition Therapeutics during the fourth quarter valued at approximately $53,000. Twin Focus Capital Partners LLC purchased a new stake in shares of Cognition Therapeutics in the 4th quarter worth approximately $173,000. Hohimer Wealth Management LLC bought a new position in Cognition Therapeutics during the 1st quarter valued at approximately $410,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in Cognition Therapeutics during the fourth quarter valued at $102,000. Finally, Bangor Savings Bank raised its stake in Cognition Therapeutics by 41.6% during the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Trading Down 3.0 %

Shares of CGTX traded down $0.06 on Wednesday, reaching $1.92. The stock had a trading volume of 111,796 shares, compared to its average volume of 175,804. Cognition Therapeutics has a 12-month low of $0.90 and a 12-month high of $2.95. The company has a 50-day simple moving average of $2.00 and a 200-day simple moving average of $2.02.

Cognition Therapeutics (NASDAQ:CGTX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Equities research analysts predict that Cognition Therapeutics will post -0.97 earnings per share for the current fiscal year.

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.