Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives $3.33 Consensus PT from Analysts

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has received a consensus rating of “Moderate Buy” from the four analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $3.3333.

CGTX has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Wednesday, June 24th. Chardan Capital reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Cognition Therapeutics in a research note on Friday, March 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Cognition Therapeutics in a report on Monday, June 22nd.

Institutional Investors Weigh In On Cognition Therapeutics

A number of institutional investors have recently modified their holdings of CGTX. DAVENPORT & Co LLC increased its position in shares of Cognition Therapeutics by 6.8% during the fourth quarter. DAVENPORT & Co LLC now owns 2,871,836 shares of the company’s stock worth $3,877,000 after buying an additional 182,500 shares during the period. Vanguard Group Inc. lifted its holdings in Cognition Therapeutics by 105.6% in the third quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock valued at $3,620,000 after buying an additional 1,377,263 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Cognition Therapeutics by 11,695.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company’s stock valued at $2,781,000 after buying an additional 2,042,815 shares during the period. Renaissance Technologies LLC boosted its position in Cognition Therapeutics by 15.2% during the first quarter. Renaissance Technologies LLC now owns 1,117,136 shares of the company’s stock valued at $848,000 after acquiring an additional 147,623 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Cognition Therapeutics by 814.1% during the first quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock valued at $422,000 after acquiring an additional 897,353 shares during the last quarter. 43.35% of the stock is owned by institutional investors.

Cognition Therapeutics Stock Up 1.9%

Shares of Cognition Therapeutics stock opened at $1.09 on Friday. Cognition Therapeutics has a twelve month low of $0.55 and a twelve month high of $3.83. The stock has a market cap of $97.55 million, a price-to-earnings ratio of -4.54 and a beta of 1.75. The company’s fifty day moving average is $1.22 and its 200 day moving average is $1.19.

Cognition Therapeutics (NASDAQ:CGTX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. As a group, equities analysts anticipate that Cognition Therapeutics will post -0.32 earnings per share for the current fiscal year.

Cognition Therapeutics Company Profile

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.