CM Management LLC Increases Stake in Cognition Therapeutics, Inc. (NASDAQ:CGTX)

CM Management LLC grew its holdings in shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) by 14.3% in the second quarter, Holdings Channel.com reports. The firm owned 200,000 shares of the company’s stock after buying an additional 25,000 shares during the period. CM Management LLC’s holdings in Cognition Therapeutics were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Bangor Savings Bank boosted its holdings 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 during the period. Levin Capital Strategies L.P. bought a new position in shares of Cognition Therapeutics in the first quarter worth $55,000. AWM Investment Company Inc. bought a new stake in shares of Cognition Therapeutics during the 1st quarter valued at $1,183,000. Tocqueville Asset Management L.P. bought a new stake in shares of Cognition Therapeutics during the 1st quarter valued at $47,000. Finally, Hohimer Wealth Management LLC bought a new position in Cognition Therapeutics in the 1st quarter worth about $410,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CGTX. Rodman & Renshaw reiterated a “buy” rating and set a $14.00 price target on shares of Cognition Therapeutics in a research report on Tuesday, July 2nd. Cantor Fitzgerald cut shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. HC Wainwright reduced their price target on shares of Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Chardan Capital began coverage on Cognition Therapeutics in a research report on Thursday, June 6th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, B. Riley restated a “neutral” rating and set a $1.00 target price (down from $5.00) on shares of Cognition Therapeutics in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.00.

Cognition Therapeutics Trading Down 1.7 %

Shares of Cognition Therapeutics stock traded down $0.01 on Tuesday, hitting $0.70. 82,366 shares of the company traded hands, compared to its average volume of 483,706. Cognition Therapeutics, Inc. has a 12-month low of $0.54 and a 12-month high of $2.95. The firm’s 50-day simple moving average is $1.28 and its 200 day simple moving average is $1.74. The company has a market cap of $28.01 million, a P/E ratio of -0.77 and a beta of 1.46.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. During the same period in the prior year, the business posted ($0.16) EPS. Analysts predict that Cognition Therapeutics, Inc. will post -0.87 earnings per share for the current 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.