Cognition Therapeutics, Inc. (NASDAQ:CGTX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts have an average rating of "Moderate Buy" on Cognition Therapeutics (1 sell, 3 buys), with a mean 12-month price target of about $3.33 and individual targets ranging from $3.00 to $4.00.
• The stock traded around $0.88 (midday), has a market cap of $77.5M and a one-year range of $0.22–$3.83, leaving the current share price well below analyst targets.
• Cognition is a clinical-stage biotech focused on Alzheimer’s disease; its lead candidate, CT1812, has completed Phase 1 and preliminary Phase 2a studies and is now in multiple Phase 2 trials in North America and Europe.

Cognition Therapeutics, Inc. (NASDAQ:CGTX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the four research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $3.3333.

A number of equities analysts have issued reports on CGTX shares. raised shares of Cognition Therapeutics to a "strong-buy" rating in a report on Tuesday, February 3rd. HC Wainwright reaffirmed a "buy" rating and set a $3.00 target price on shares of Cognition Therapeutics in a report on Thursday, December 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cognition Therapeutics in a research report on Monday, December 29th. Finally, Chardan Capital reissued a "buy" rating and issued a $4.00 price target on shares of Cognition Therapeutics in a report on Friday.

Cognition Therapeutics Stock Performance

Shares of NASDAQ CGTX traded down $0.20 during midday trading on Friday, hitting $0.88. The company's stock had a trading volume of 1,200,433 shares, compared to its average volume of 830,845. Cognition Therapeutics has a 1-year low of $0.22 and a 1-year high of $3.83. The firm's fifty day moving average price is $1.14 and its 200-day moving average price is $1.45. The firm has a market cap of $77.50 million, a P/E ratio of -1.83 and a beta of 1.25.

Hedge Funds Weigh In On Cognition Therapeutics

Several institutional investors have recently modified their holdings of CGTX. DAVENPORT & Co LLC increased its holdings in shares of Cognition Therapeutics by 6.8% in the 4th quarter. DAVENPORT & Co LLC now owns 2,871,836 shares of the company's stock worth $3,877,000 after acquiring an additional 182,500 shares during the period. Vanguard Group Inc. boosted its stake in Cognition Therapeutics by 105.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company's stock valued at $3,620,000 after purchasing an additional 1,377,263 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Cognition Therapeutics by 11,695.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company's stock worth $2,781,000 after purchasing an additional 2,042,815 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Cognition Therapeutics by 814.1% in 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. Finally, Chescapmanager LLC increased its stake in shares of Cognition Therapeutics by 98.1% in the third quarter. Chescapmanager LLC now owns 997,029 shares of the company's stock valued at $1,346,000 after purchasing an additional 493,770 shares during the period. Institutional investors own 43.35% of the company's stock.

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.

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