DAVENPORT & Co LLC Invests $3.63 Million in Cognition Therapeutics, Inc. $CGTX

DAVENPORT & Co LLC bought a new stake in Cognition Therapeutics, Inc. (NASDAQ:CGTX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,689,336 shares of the company’s stock, valued at approximately $3,631,000.

Separately, Northeast Financial Consultants Inc boosted its position in Cognition Therapeutics by 158.6% during the 1st quarter. Northeast Financial Consultants Inc now owns 63,351 shares of the company’s stock worth $27,000 after purchasing an additional 38,851 shares during the period. Institutional investors and hedge funds own 43.35% of the company’s stock.

Cognition Therapeutics Stock Performance

Shares of NASDAQ CGTX opened at $1.45 on Friday. Cognition Therapeutics, Inc. has a 1 year low of $0.22 and a 1 year high of $3.83. The stock’s 50-day simple moving average is $1.61 and its 200-day simple moving average is $1.37. The firm has a market cap of $127.99 million, a price-to-earnings ratio of -3.02 and a beta of 1.23.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. As a group, research analysts predict that Cognition Therapeutics, Inc. will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

CGTX has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Cognition Therapeutics in a research report on Thursday, December 4th. B. Riley reiterated a “buy” rating and set a $3.00 target price (up from $2.00) on shares of Cognition Therapeutics in a report on Friday, November 21st. Wall Street Zen raised Cognition Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.33.

About Cognition Therapeutics

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.