Cognition Therapeutics (NASDAQ:CGTX) Stock Falls 2% – Time to Sell?

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) were down 2% during mid-day trading on Friday. The stock traded as low as $0.8741 and last traded at $0.8769. 316,659 shares changed hands during trading, a decline of 26% from the average session volume of 428,181 shares. The stock had previously closed at $0.8952.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CGTX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Monday, September 21st. Wall Street Zen lowered Cognition Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, HC Wainwright reiterated a “buy” rating on shares of Cognition Therapeutics in a report on Monday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.33.

Cognition Therapeutics Stock Down 2.0%

The stock has a market capitalization of $83.39 million, a P/E ratio of -5.16 and a beta of 1.80. The company has a fifty day simple moving average of $1.00 and a two-hundred day simple moving average of $1.08.

Cognition Therapeutics (NASDAQ:CGTX) last announced its earnings results on Thursday, August 6th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. As a group, equities analysts forecast that Cognition Therapeutics, Inc. will post -0.30 earnings per share for the current year.

Institutional Trading of Cognition Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CGTX. Bryn Mawr Trust Advisors LLC acquired a new stake in shares of Cognition Therapeutics in the second quarter valued at about $33,000. Essex Financial Services Inc. lifted its stake in Cognition Therapeutics by 100.0% in the first quarter. Essex Financial Services Inc. now owns 40,000 shares of the company’s stock valued at $30,000 after acquiring an additional 20,000 shares during the last quarter. Corient Private Wealth LP acquired a new position in shares of Cognition Therapeutics during the 2nd quarter worth about $93,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Cognition Therapeutics in the 2nd quarter valued at about $165,000. Finally, Tocqueville Asset Management L.P. bought a new position in Cognition Therapeutics during the second quarter worth about $369,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

Cognition Therapeutics Company Profile

Cognition Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurodegenerative diseases that affect memory, cognition and behavior. The company’s research centers on drug candidates designed to protect or restore synaptic function, which is important for communication between nerve cells.

Cognition Therapeutics’ lead investigational product is CT1812, an orally administered, brain-penetrant small molecule designed to modulate the sigma-2 receptor complex.