Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Up 270.7% in November

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 2,680,000 shares, an increase of 270.7% from the November 15th total of 723,000 shares. Based on an average daily trading volume, of 1,440,000 shares, the short-interest ratio is presently 1.9 days. Currently, 7.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CGTX shares. Chardan Capital restated a “buy” rating and set a $11.00 target price on shares of Cognition Therapeutics in a research report on Friday, November 15th. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Cognition Therapeutics in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Cognition Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in Cognition Therapeutics during the third quarter worth $27,000. Sigma Planning Corp lifted its holdings in shares of Cognition Therapeutics by 14.6% in the 3rd quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock worth $92,000 after acquiring an additional 25,050 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Cognition Therapeutics by 33.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after purchasing an additional 24,050 shares during the last quarter. Finally, CM Management LLC raised its position in Cognition Therapeutics by 14.3% in the 2nd quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after purchasing an additional 25,000 shares during the period. Institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Price Performance

CGTX stock traded down $0.02 during trading on Friday, hitting $0.49. 483,436 shares of the company’s stock traded hands, compared to its average volume of 751,551. Cognition Therapeutics has a 52 week low of $0.34 and a 52 week high of $2.95. The business has a fifty day simple moving average of $0.46 and a 200 day simple moving average of $0.99.

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.