State Street Corp raised its holdings in Cortexyme, Inc. (NASDAQ:CRTX) by 10.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,052 shares of the biopharmaceutical company’s stock after acquiring an additional 18,125 shares during the period. State Street Corp owned about 0.66% of Cortexyme worth $8,851,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Parallel Advisors LLC bought a new stake in shares of Cortexyme during the first quarter worth about $43,000. Golden State Wealth Management LLC bought a new stake in shares of Cortexyme during the first quarter worth about $46,000. Victory Capital Management Inc. grew its holdings in shares of Cortexyme by 109.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,665 shares of the biopharmaceutical company’s stock worth $78,000 after purchasing an additional 869 shares during the last quarter. Botty Investors LLC grew its holdings in shares of Cortexyme by 100.0% during the first quarter. Botty Investors LLC now owns 3,062 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 1,531 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Cortexyme by 50.0% during the first quarter. Citigroup Inc. now owns 3,470 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 1,157 shares during the last quarter. Hedge funds and other institutional investors own 38.29% of the company’s stock.
Shares of CRTX opened at $39.85 on Friday. Cortexyme, Inc. has a 52-week low of $19.35 and a 52-week high of $73.84. The business’s 50 day moving average price is $46.21 and its two-hundred day moving average price is $47.48. The firm has a market cap of $1.17 billion, a PE ratio of -19.83 and a beta of 1.79.
In other news, insider Epiq Capital Group, Llc bought 6,085 shares of the stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $57.95 per share, with a total value of $352,625.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Lamond bought 5,448 shares of the stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $48.93 per share, for a total transaction of $266,570.64. Following the completion of the transaction, the director now directly owns 301,829 shares of the company’s stock, valued at $14,768,492.97. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 120,596 shares of company stock worth $5,944,646. Insiders own 19.80% of the company’s stock.
Several analysts have recently weighed in on the company. HC Wainwright assumed coverage on Cortexyme in a report on Wednesday, June 24th. They set a “buy” rating and a $76.00 price target on the stock. Jefferies Financial Group started coverage on Cortexyme in a report on Tuesday, June 2nd. They set a “buy” rating and a $59.00 price target on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 price objective (up from $42.00) on shares of Cortexyme in a research note on Wednesday, May 13th. ValuEngine lowered Cortexyme from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, BidaskClub lowered Cortexyme from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Cortexyme currently has an average rating of “Hold” and a consensus target price of $62.50.
Cortexyme Company Profile
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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