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

Key Points

• Cognition Therapeutics, Inc. has received a consensus rating of "Moderate Buy" from five brokerages, with a target price averaging $2.83.
• The company's stock, trading under NASDAQ:CGTX, has reported a 52-week low of $0.22 and a high of $3.83, currently trading at around $1.55.
• Institutional investors have recently increased their stakes in Cognition Therapeutics, with notable increases such as Two Sigma Investments LP growing its stake by 372.2%.

Cognition Therapeutics, Inc. (NASDAQ:CGTX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $2.8333.

A number of brokerages have commented on CGTX. Weiss Ratings reiterated a "sell (e+)" rating on shares of Cognition Therapeutics in a research report on Saturday, September 27th. Chardan Capital restated a "buy" rating and issued a $4.00 target price on shares of Cognition Therapeutics in a report on Friday, August 8th. Wall Street Zen lowered shares of Cognition Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Finally, HC Wainwright reissued a "buy" rating and issued a $3.00 price target on shares of Cognition Therapeutics in a report on Thursday, June 26th.

Cognition Therapeutics Price Performance

NASDAQ:CGTX traded up $0.12 on Friday, reaching $1.55. 2,152,827 shares of the company's stock were exchanged, compared to its average volume of 3,406,444. The firm has a market cap of $113.96 million, a price-to-earnings ratio of -2.31 and a beta of 1.19. Cognition Therapeutics has a 52 week low of $0.22 and a 52 week high of $3.83. The stock has a fifty day simple moving average of $1.66 and a 200-day simple moving average of $0.84.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. As a group, sell-side analysts predict that Cognition Therapeutics will post -0.8 EPS for the current year.

Institutional Trading of Cognition Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP grew its stake in shares of Cognition Therapeutics by 372.2% during the 4th 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. Northeast Financial Consultants Inc grew its stake in shares of Cognition Therapeutics by 158.6% during the 1st 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. CM Management LLC grew its stake in shares of Cognition Therapeutics by 100.0% during the 1st 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 grew its stake in shares of Cognition Therapeutics by 814.1% during the 1st 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. Hedge funds and other institutional investors own 43.35% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.