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

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has earned an average rating of “Moderate Buy” from the four analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $3.3333.

A number of equities research analysts recently weighed in on CGTX shares. Wall Street Zen cut Cognition Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Wednesday, June 24th. Finally, HC Wainwright reissued a “buy” rating on shares of Cognition Therapeutics in a report on Thursday, August 13th.

Cognition Therapeutics Price Performance

NASDAQ:CGTX opened at $1.02 on Monday. Cognition Therapeutics has a fifty-two week low of $0.55 and a fifty-two week high of $2.67. The stock has a market cap of $97.00 million, a PE ratio of -6.00 and a beta of 1.77. The firm’s fifty day simple moving average is $1.05 and its 200-day simple moving average is $1.10.

Cognition Therapeutics (NASDAQ:CGTX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Equities analysts anticipate that Cognition Therapeutics will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Cognition Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its stake in Cognition Therapeutics by 11,695.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company’s stock valued at $2,781,000 after buying an additional 2,042,815 shares in the last quarter. Sigma Planning Corp increased its position in Cognition Therapeutics by 70.1% during the fourth quarter. Sigma Planning Corp now owns 216,165 shares of the company’s stock worth $295,000 after buying an additional 89,075 shares in the last quarter. CM Management LLC acquired a new position in shares of Cognition Therapeutics in the fourth quarter worth $270,000. Corient Private Wealth LP acquired a new position in shares of Cognition Therapeutics in the second quarter worth $93,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Cognition Therapeutics in the second quarter valued at $369,000. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

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.