Cognition Therapeutics (NASDAQ:CGTX) Trading Down 1.7% – Should You Sell?

Cognition Therapeutics, Inc. (NASDAQ:CGTX)’s share price was down 1.7% during trading on Wednesday . The company traded as low as $1.11 and last traded at $1.13. 2,358,347 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 2,060,177 shares. The stock had previously closed at $1.15.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Chardan Capital reiterated a “buy” rating and set a $4.00 target price on shares of Cognition Therapeutics in a research note on Friday, March 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Wednesday, June 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Cognition Therapeutics in a research note on Monday, June 22nd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.33.

Cognition Therapeutics Price Performance

The stock’s 50-day moving average price is $1.24 and its 200 day moving average price is $1.21. The firm has a market capitalization of $101.13 million, a PE ratio of -4.71 and a beta of 1.75.

Cognition Therapeutics (NASDAQ:CGTX) last issued its earnings results 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. Equities research analysts forecast that Cognition Therapeutics, Inc. will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cognition Therapeutics

Several hedge funds have recently made changes to their positions in the company. Gamco Investors INC. ET AL acquired a new position in shares of Cognition Therapeutics in the third quarter valued at about $27,000. Essex Financial Services Inc. purchased a new stake in Cognition Therapeutics in the 4th quarter worth approximately $27,000. Private Management Group Inc. acquired a new stake in shares of Cognition Therapeutics during the 3rd quarter valued at about $32,000. Marshall Wace LLP purchased a new position in Cognition Therapeutics during the fourth quarter valued at $37,000. Finally, Raymond James Financial Inc. boosted its stake in shares of Cognition Therapeutics by 34.7% in the third 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. 43.35% of the stock is 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.