Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has earned a consensus recommendation of “Moderate Buy” from the four research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $3.3333.

Several research firms recently issued reports on CGTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Friday, March 27th. Chardan Capital restated a “buy” rating and issued a $4.00 price target on shares of Cognition Therapeutics in a research report on Friday, March 27th.

Cognition Therapeutics Stock Down 5.0%

NASDAQ CGTX opened at $1.15 on Wednesday. The company has a market capitalization of $102.93 million, a P/E ratio of -4.79 and a beta of 1.75. The firm has a 50-day moving average price of $1.13 and a two-hundred day moving average price of $1.25. Cognition Therapeutics has a 12-month low of $0.25 and a 12-month high of $3.83.

Cognition Therapeutics (NASDAQ:CGTX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. Equities analysts expect that Cognition Therapeutics will post -0.32 EPS for the current year.

Institutional Investors Weigh In On Cognition Therapeutics

Several large investors have recently modified their holdings of CGTX. DAVENPORT & Co LLC grew its holdings in Cognition Therapeutics by 6.8% in the fourth quarter. DAVENPORT & Co LLC now owns 2,871,836 shares of the company’s stock worth $3,877,000 after purchasing an additional 182,500 shares during the period. Vanguard Group Inc. lifted its position in shares of Cognition Therapeutics by 105.6% during the third quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock valued at $3,620,000 after purchasing an additional 1,377,263 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position 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 worth $2,781,000 after acquiring an additional 2,042,815 shares during the period. Renaissance Technologies LLC raised its position in Cognition Therapeutics by 15.2% in the first quarter. Renaissance Technologies LLC now owns 1,117,136 shares of the company’s stock worth $848,000 after acquiring an additional 147,623 shares during the period. Finally, Acadian Asset Management LLC raised its position in Cognition Therapeutics by 814.1% in the first quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock worth $422,000 after acquiring an additional 897,353 shares during the period. 43.35% of the stock is currently owned by institutional investors and hedge funds.

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.