Shares of Cortexyme, Inc. (NASDAQ:CRTX) rose 1.4% on Tuesday . The stock traded as high as $34.00 and last traded at $32.35, approximately 1,414 shares were traded during trading. A decline of 99% from the average daily volume of 155,184 shares. The stock had previously closed at $31.91.
Separately, Zacks Investment Research downgraded Cortexyme from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.00.
The firm has a 50-day moving average of $24.56 and a two-hundred day moving average of $28.42.
Several hedge funds have recently made changes to their positions in CRTX. Wells Fargo & Company MN bought a new position in Cortexyme in the second quarter valued at about $191,000. JPMorgan Chase & Co. bought a new position in Cortexyme in the second quarter valued at about $78,000. Landscape Capital Management L.L.C. bought a new position in Cortexyme in the second quarter valued at about $535,000. Charles Schwab Investment Management Inc. bought a new position in Cortexyme in the second quarter valued at about $1,052,000. Finally, Bank of New York Mellon Corp bought a new position in Cortexyme in the second quarter valued at about $349,000. Institutional investors and hedge funds own 20.62% of the company’s stock.
Cortexyme Company Profile (NASDAQ:CRTX)
Cortexyme, Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutics for Alzheimer's disease and other degenerative disorders. Its lead drug candidate is COR388, an orally-administered brain-penetrating small molecule gingipain inhibitor, which has completed Phase 1a and Phase 1b clinical trials for use in patients with mild to moderate Alzheimer's disease.
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