Cortexyme, Inc. (NASDAQ:CRTX)’s share price dropped 7.4% during trading on Tuesday . The stock traded as low as $35.82 and last traded at $35.82. Approximately 2,161 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 288,967 shares. The stock had previously closed at $38.70.
A number of research firms have recently weighed in on CRTX. Jefferies Financial Group lowered Cortexyme from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $59.00 to $34.00 in a research note on Tuesday, February 16th. Zacks Investment Research lowered shares of Cortexyme from a “hold” rating to a “sell” rating in a report on Tuesday, April 13th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Cortexyme has a consensus rating of “Hold” and an average target price of $50.00.
The company has a market capitalization of $1.04 billion, a P/E ratio of -15.08 and a beta of 0.95. The business has a 50 day moving average of $36.50 and a 200 day moving average of $38.83.
In related news, Director David Lamond acquired 50,000 shares of the stock in a transaction dated Wednesday, March 24th. The stock was acquired at an average cost of $33.77 per share, with a total value of $1,688,500.00. Following the purchase, the director now directly owns 301,829 shares of the company’s stock, valued at $10,192,765.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Casey Lynch sold 30,000 shares of Cortexyme stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $35.59, for a total value of $1,067,700.00. Following the completion of the transaction, the chief executive officer now owns 49,895 shares of the company’s stock, valued at approximately $1,775,763.05. The disclosure for this sale can be found here. Insiders own 19.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. EPIQ Capital Group LLC increased its position in Cortexyme by 4.2% during the first quarter. EPIQ Capital Group LLC now owns 3,655,799 shares of the biopharmaceutical company’s stock valued at $131,719,000 after acquiring an additional 148,717 shares during the last quarter. Pacific Heights Asset Management LLC grew its holdings in Cortexyme by 22.2% during the 1st quarter. Pacific Heights Asset Management LLC now owns 275,000 shares of the biopharmaceutical company’s stock valued at $9,908,000 after purchasing an additional 50,000 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Cortexyme in the 4th quarter worth about $283,000. JPMorgan Chase & Co. raised its position in Cortexyme by 60.5% in the 4th quarter. JPMorgan Chase & Co. now owns 17,202 shares of the biopharmaceutical company’s stock worth $477,000 after purchasing an additional 6,483 shares during the period. Finally, AtonRa Partners bought a new stake in Cortexyme in the fourth quarter worth about $528,000. 55.48% of the stock is owned by institutional investors.
About Cortexyme (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 atuzaginstat (COR388), an orally administered brain-penetrating small molecule gingipain inhibitor, which is in Phase II/III clinical trial for use in patients with mild to moderate Alzheimer's disease.
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