Cognition Therapeutics (NASDAQ:CGTX) Shares Up 4.6% – Time to Buy?

Cognition Therapeutics, Inc. (NASDAQ:CGTX)’s stock price rose 4.6% during trading on Monday . The company traded as high as $1.17 and last traded at $1.14. Approximately 738,863 shares traded hands during trading, a decline of 23% from the average daily volume of 959,797 shares. The stock had previously closed at $1.09.

Analyst Ratings Changes

A number of brokerages have weighed in on CGTX. B. Riley reaffirmed a “buy” rating and issued a $3.00 target price (up from $2.00) on shares of Cognition Therapeutics in a research note on Friday, November 21st. Wall Street Zen raised shares of Cognition Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of Cognition Therapeutics in a research report on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3.33.

Cognition Therapeutics Stock Performance

The firm’s 50-day simple moving average is $1.49 and its 200 day simple moving average is $1.56. The company has a market cap of $100.63 million, a P/E ratio of -2.37 and a beta of 1.25.

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

Institutional Trading of Cognition Therapeutics

A number of hedge funds have recently modified their holdings of CGTX. Raymond James Financial Inc. boosted its stake in Cognition Therapeutics by 34.7% during the 3rd quarter. Raymond James Financial Inc. now owns 29,641 shares of the company’s stock worth $40,000 after acquiring an additional 7,641 shares during the last quarter. Bryn Mawr Trust Advisors LLC raised its holdings in Cognition Therapeutics by 69.1% in the third quarter. Bryn Mawr Trust Advisors LLC now owns 39,466 shares of the company’s stock worth $53,000 after purchasing an additional 16,129 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Cognition Therapeutics during the third quarter worth $25,000. Gamco Investors INC. ET AL acquired a new position in shares of Cognition Therapeutics in the 3rd quarter valued at $27,000. Finally, Private Management Group Inc. bought a new stake in shares of Cognition Therapeutics in the 3rd quarter valued at $32,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

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.