Northwestern Mutual Wealth Management Co. Purchases 2,042,815 Shares of Cognition Therapeutics, Inc. $CGTX

Northwestern Mutual Wealth Management Co. boosted its stake in Cognition Therapeutics, Inc. (NASDAQ:CGTX) by 11,695.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,060,282 shares of the company’s stock after acquiring an additional 2,042,815 shares during the period. Northwestern Mutual Wealth Management Co. owned 2.33% of Cognition Therapeutics worth $2,781,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. CM Management LLC bought a new stake in Cognition Therapeutics in the fourth quarter worth about $270,000. Sigma Planning Corp increased its stake in shares of Cognition Therapeutics by 70.1% in the fourth quarter. Sigma Planning Corp now owns 216,165 shares of the company’s stock worth $295,000 after purchasing an additional 89,075 shares in the last quarter. DAVENPORT & Co LLC increased its stake in shares of Cognition Therapeutics by 6.8% in the fourth quarter. DAVENPORT & Co LLC now owns 2,871,836 shares of the company’s stock worth $3,877,000 after purchasing an additional 182,500 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Cognition Therapeutics in the third quarter worth about $138,000. Finally, Millennium Management LLC purchased a new position in shares of Cognition Therapeutics in the third quarter worth about $757,000. Institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Stock Performance

Shares of CGTX opened at $1.26 on Tuesday. The firm has a market cap of $112.77 million, a price-to-earnings ratio of -5.25 and a beta of 1.81. Cognition Therapeutics, Inc. has a fifty-two week low of $0.22 and a fifty-two week high of $3.83. The firm has a 50 day moving average price of $1.09 and a 200-day moving average price of $1.27.

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. raised shares of Cognition Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Friday, March 27th. Finally, Chardan Capital reissued a “buy” rating and issued a $4.00 price target on shares of Cognition Therapeutics in a research note on Friday, March 27th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.33.

Cognition Therapeutics 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.