Cognition Therapeutics (NASDAQ:CGTX) Trading Up 3.3% – Time to Buy?

Cognition Therapeutics, Inc. (NASDAQ:CGTXGet Free Report)’s share price traded up 3.3% during trading on Monday . The company traded as high as $0.9738 and last traded at $0.9494. 411,322 shares traded hands during trading, a decline of 69% from the average daily volume of 1,312,494 shares. The stock had previously closed at $0.9195.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CGTX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Wednesday, June 24th. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of Cognition Therapeutics in a report on Monday, June 22nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $3.33.

Read Our Latest Stock Report on CGTX

Cognition Therapeutics Price Performance

The stock has a 50 day moving average of $1.17 and a two-hundred day moving average of $1.15. The stock has a market capitalization of $84.97 million, a PE ratio of -3.96 and a beta of 1.75.

Cognition Therapeutics (NASDAQ:CGTXGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. As a group, research analysts predict that Cognition Therapeutics, Inc. will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cognition Therapeutics

Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Cognition Therapeutics by 11,695.3% during 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 acquiring an additional 2,042,815 shares during the period. Vanguard Group Inc. grew its holdings in shares of Cognition Therapeutics by 105.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock worth $3,620,000 after acquiring an additional 1,377,263 shares during the period. Acadian Asset Management LLC increased its stake in Cognition Therapeutics by 814.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock valued at $422,000 after purchasing an additional 897,353 shares in the last quarter. Millennium Management LLC purchased a new position in Cognition Therapeutics in the 3rd quarter valued at approximately $757,000. Finally, Renaissance Technologies LLC increased its stake in Cognition Therapeutics by 35.9% in the 4th quarter. Renaissance Technologies LLC now owns 969,513 shares of the company’s stock valued at $1,309,000 after purchasing an additional 256,013 shares in the last quarter. Hedge funds and other institutional investors own 43.35% of the company’s stock.

About Cognition Therapeutics

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Cognition Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognition Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.