Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give Cognition Therapeutics a “Moderate Buy” consensus: Three of four covering brokerages rate the stock a buy, while one rates it a sell. The average 12-month price target is $3.33.
• CGTX shares fell 2.8% to $0.97, with a market capitalization of approximately $92 million. The company reported a quarterly loss of $0.04 per share, beating analyst expectations of a $0.06 loss.
• Institutional investors own 43.35% of the stock, while Cognition’s lead drug candidate, CT1812, is being evaluated in multiple Phase 2 trials for mild-to-moderate Alzheimer’s disease.

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the four brokerages that are currently covering the firm, Marketbeat 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 updated their coverage on the stock in the last year is $3.3333.

A number of research analysts recently commented on CGTX shares. HC Wainwright reiterated a "buy" rating on shares of Cognition Therapeutics in a report on Thursday, August 13th. Wall Street Zen cut Cognition Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cognition Therapeutics in a research note on Wednesday, June 24th.

Cognition Therapeutics Trading Down 2.8%

CGTX stock traded down $0.03 during trading on Monday, reaching $0.97. 58,504 shares of the stock were exchanged, compared to its average volume of 1,154,216. The firm has a market capitalization of $92.05 million, a price-to-earnings ratio of -5.72 and a beta of 1.78. The business has a 50 day moving average price of $1.08 and a 200-day moving average price of $1.10. Cognition Therapeutics has a 1 year low of $0.55 and a 1 year high of $3.83.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. On average, research analysts anticipate that Cognition Therapeutics will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its position in shares of Cognition Therapeutics by 11,695.3% during 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 acquiring an additional 2,042,815 shares during the last quarter. Sigma Planning Corp lifted its holdings in shares of Cognition Therapeutics by 70.1% in the 4th quarter. Sigma Planning Corp now owns 216,165 shares of the company's stock worth $295,000 after acquiring an additional 89,075 shares during the last quarter. CM Management LLC acquired a new position in Cognition Therapeutics during the fourth quarter worth $270,000. Corient Private Wealth LP acquired a new stake in shares of Cognition Therapeutics in the second quarter valued at $93,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Cognition Therapeutics in the 2nd quarter valued at $369,000. Institutional investors and hedge funds 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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