Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Update

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) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 5,320,000 shares, adropof28.2% from the July 15th total of 7,410,000 shares. Approximately10.7% of the shares of the company are sold short. Based on an average daily volume of 7,430,000 shares, the days-to-cover ratio is currently 0.7 days. 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 shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Chardan Capital reaffirmed a "buy" rating and set a $4.00 target price on shares of Cognition Therapeutics in a research note on Friday, August 8th. Wall Street Zen downgraded Cognition Therapeutics to a "strong sell" rating in a research note on Saturday, July 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $3.00 target price on shares of Cognition Therapeutics in a research note on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $2.83.

Cognition Therapeutics Stock Performance

NASDAQ:CGTX opened at $1.67 on Wednesday. Cognition Therapeutics has a one year low of $0.2223 and a one year high of $1.97. The stock has a market cap of $122.69 million, a PE ratio of -2.49 and a beta of 1.00. The stock has a 50 day moving average price of $0.64 and a 200 day moving average price of $0.50.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP lifted its holdings in Cognition Therapeutics by 372.2% in the fourth 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. Northeast Financial Consultants Inc lifted its holdings in Cognition Therapeutics by 158.6% in the first 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. Geode Capital Management LLC lifted its holdings in Cognition Therapeutics by 8.9% in the fourth 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. CM Management LLC lifted its holdings in Cognition Therapeutics by 100.0% in the first 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. Finally, Acadian Asset Management LLC lifted its holdings in 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 acquiring an additional 897,353 shares during the last quarter. 43.35% of the stock is currently owned by institutional investors and hedge funds.

Cognition Therapeutics Company Profile

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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