Cognition Therapeutics' (CGTX) "Sell (E+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Cognition Therapeutics' stock has been reaffirmed with a "sell (E+)" rating by Weiss Ratings, indicating continued concerns from analysts regarding the company's performance.
• Despite mixed ratings from various analysts, the average rating for Cognition Therapeutics remains a "Moderate Buy" with a target price of $2.83.
• The company recently reported earnings of ($0.11) per share, beating consensus estimates, while hedge funds have significantly increased their holdings in the stock over recent quarters.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report)'s stock had its "sell (e+)" rating restated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

CGTX has been the subject of several other research reports. Wall Street Zen lowered Cognition Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, September 26th. HC Wainwright restated a "buy" rating and issued a $3.00 price objective on shares of Cognition Therapeutics in a research report on Thursday, June 26th. Finally, Chardan Capital restated a "buy" rating and issued a $4.00 price objective on shares of Cognition Therapeutics in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cognition Therapeutics has an average rating of "Moderate Buy" and an average target price of $2.83.

Cognition Therapeutics Stock Performance

NASDAQ:CGTX traded up $0.01 during mid-day trading on Wednesday, hitting $1.76. 2,063,831 shares of the company traded hands, compared to its average volume of 3,349,792. The stock's fifty day moving average price is $1.70 and its 200-day moving average price is $0.86. Cognition Therapeutics has a one year low of $0.22 and a one year high of $3.83.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. Analysts forecast that Cognition Therapeutics will post -0.8 EPS for the current year.

Institutional Investors Weigh In On Cognition Therapeutics

Hedge funds have recently made changes to their positions in the company. Northeast Financial Consultants Inc raised its position in Cognition Therapeutics by 158.6% during the first quarter. Northeast Financial Consultants Inc now owns 63,351 shares of the company's stock valued at $27,000 after purchasing an additional 38,851 shares during the period. Two Sigma Investments LP raised its position in Cognition Therapeutics by 372.2% during the fourth quarter. Two Sigma Investments LP now owns 53,691 shares of the company's stock valued at $38,000 after purchasing an additional 42,321 shares during the period. CM Management LLC raised its position in Cognition Therapeutics by 100.0% during the first quarter. CM Management LLC now owns 400,000 shares of the company's stock valued at $168,000 after purchasing an additional 200,000 shares during the period. Finally, Acadian Asset Management LLC raised 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 purchasing an additional 897,353 shares during the period. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

About Cognition Therapeutics

Cognition Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina. Its lead product candidate is CT1812, an orally delivered molecule modulator designed to penetrate the blood-brain barrier and bind selectively to the S2R complex, which is in Phase 2 clinical trial for the treatment of Alzheimer's disease, as well as geographic atrophy secondary to dry age-related macular degeneration and synucleinopathies, such as dementia with Lewy bodies.

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