Cognition Therapeutics, Inc. (NASDAQ:CGTX) Sees Significant Decrease in Short Interest

Key Points

• Cognition Therapeutics experienced a significant 28.2% drop in short interest from mid-July to the end of July, with the total short interest falling to 5,320,000 shares.
• Analysts have mixed ratings on the stock, with Chardan Capital maintaining a "buy" rating and a $4.00 price target, while Wall Street Zen downgraded it to a "strong sell."
• The company's stock has a market capitalization of $122.69 million and recently reported a quarterly earnings per share (EPS) of ($0.11), beating the consensus estimate slightly.

Cognition Therapeutics, Inc. (NASDAQ:CGTX - Get Free Report) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 5,320,000 shares, adeclineof28.2% from the July 15th total of 7,410,000 shares. Based on an average daily volume of 7,430,000 shares, the days-to-cover ratio is currently 0.7 days. Approximately10.7% of the company's shares are short sold. Approximately10.7% of the company's shares are short sold. Based on an average daily volume of 7,430,000 shares, the days-to-cover ratio is currently 0.7 days.

Cognition Therapeutics Stock Performance

Shares of NASDAQ:CGTX traded up $0.3190 on Monday, hitting $3.1290. 20,369,796 shares of the company's stock were exchanged, compared to its average volume of 4,822,657. The firm's 50-day moving average is $0.76 and its 200 day moving average is $0.53. The company has a market capitalization of $229.89 million, a PE ratio of -4.73 and a beta of 1.00. Cognition Therapeutics has a 1-year low of $0.22 and a 1-year high of $3.83.

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

Institutional Trading of Cognition Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Northeast Financial Consultants Inc raised its stake in 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 acquiring an additional 38,851 shares during the last quarter. Two Sigma Investments LP raised its stake in 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 acquiring an additional 42,321 shares during the last quarter. CM Management LLC raised its stake in 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 acquiring an additional 200,000 shares during the last quarter. Geode Capital Management LLC raised its stake in Cognition Therapeutics by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 352,348 shares of the company's stock valued at $247,000 after acquiring an additional 28,705 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in 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 acquiring an additional 897,353 shares during the last quarter. 43.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CGTX. HC Wainwright restated a "buy" rating and issued a $3.00 target price on shares of Cognition Therapeutics in a research report on Thursday, June 26th. Chardan Capital reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Cognition Therapeutics in a research note on Friday, August 8th. Finally, Wall Street Zen cut Cognition Therapeutics to a "strong sell" rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $2.83.

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.