Cortexyme (NASDAQ:CRTX) Stock Price Up 14%

Cortexyme, Inc. (NASDAQ:CRTX)’s share price rose 14% during mid-day trading on Wednesday . The stock traded as high as $62.00 and last traded at $61.07, approximately 170,861 shares changed hands during trading. An increase of 1% from the average daily volume of 169,632 shares. The stock had previously closed at $53.59.

CRTX has been the subject of several recent analyst reports. BidaskClub lowered Cortexyme from a “buy” rating to a “hold” rating in a research note on Saturday, February 1st. Zacks Investment Research lowered Cortexyme from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.00.

The firm has a 50 day simple moving average of $53.59 and a 200-day simple moving average of $34.45.

Cortexyme (NASDAQ:CRTX) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). As a group, equities research analysts expect that Cortexyme, Inc. will post -1.51 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. 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 bought a new stake in shares of Cortexyme during the fourth quarter worth $86,000. Bank of Montreal Can bought a new stake in shares of Cortexyme during the fourth quarter worth $93,000. Citigroup Inc. grew its holdings in shares of Cortexyme by 1,517.5% during the fourth quarter. Citigroup Inc. now owns 2,313 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 2,170 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its holdings in shares of Cortexyme by 100.0% during the fourth quarter. Atlas Capital Advisors LLC now owns 3,000 shares of the biopharmaceutical company’s stock worth $168,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors 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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