Cognition Therapeutics, Inc. (NASDAQ:CGTX) Position Reduced by CM Management LLC

CM Management LLC reduced its position in shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) by 20.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,000 shares of the company’s stock after selling 50,000 shares during the quarter. CM Management LLC owned about 0.48% of Cognition Therapeutics worth $140,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sigma Planning Corp boosted its stake in Cognition Therapeutics by 14.6% during the third quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock valued at $92,000 after buying an additional 25,050 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Cognition Therapeutics in the 4th quarter valued at about $26,000. Finally, Virtu Financial LLC bought a new position in shares of Cognition Therapeutics during the 3rd quarter valued at about $27,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CGTX has been the topic of a number of research reports. B. Riley upgraded shares of Cognition Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $1.00 to $1.50 in a report on Thursday, December 19th. HC Wainwright upped their price target on Cognition Therapeutics from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Brookline Capital Management raised Cognition Therapeutics to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Cognition Therapeutics in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cognition Therapeutics has a consensus rating of “Buy” and a consensus price target of $8.30.

Cognition Therapeutics Stock Down 0.6 %

Shares of NASDAQ:CGTX opened at $0.43 on Friday. The company’s fifty day moving average is $0.65 and its two-hundred day moving average is $0.57. The company has a market cap of $17.81 million, a P/E ratio of -0.44 and a beta of 1.03. Cognition Therapeutics, Inc. has a 12-month low of $0.34 and a 12-month high of $2.95.

Cognition Therapeutics 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.