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

Key Points

• Cognition Therapeutics experienced a significant increase in short interest, rising by 47.8% to a total of 9,210,000 shares by August 31st, representing 15.6% of the company's stock sold short.
• Analysts maintain a generally positive outlook with an average rating of "Buy" and a price target of $2.83, with Chardan Capital setting a price target of $4.00.
• The company's stock has decreased by 29.0%, trading at $1.54, while experiencing a 12-month range between $0.22 and $3.83.

Cognition Therapeutics, Inc. (NASDAQ:CGTX - Get Free Report) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 9,210,000 shares, an increase of 47.8% from the August 15th total of 6,230,000 shares. Currently, 15.6% of the company's stock are sold short. Based on an average trading volume of 10,600,000 shares, the days-to-cover ratio is currently 0.9 days. Based on an average trading volume of 10,600,000 shares, the days-to-cover ratio is currently 0.9 days. Currently, 15.6% of the company's stock are sold short.

Analysts Set New Price Targets

Several research firms have commented on CGTX. Chardan Capital reaffirmed a "buy" rating and issued a $4.00 price target on shares of Cognition Therapeutics in a report on Friday, August 8th. HC Wainwright reiterated a "buy" rating and issued a $3.00 price objective on shares of Cognition Therapeutics in a research report on Thursday, June 26th. Finally, Wall Street Zen upgraded Cognition Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $2.83.

Cognition Therapeutics Stock Down 29.0%

CGTX stock opened at $1.54 on Tuesday. The firm has a market cap of $113.22 million, a PE ratio of -2.30 and a beta of 1.29. The business has a 50 day moving average of $1.45 and a 200-day moving average of $0.74. Cognition Therapeutics has a 12-month low of $0.22 and a 12-month high of $3.83.

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

Institutional Investors Weigh In On Cognition Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northeast Financial Consultants Inc boosted 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 worth $27,000 after acquiring an additional 38,851 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Cognition Therapeutics by 372.2% in the 4th quarter. Two Sigma Investments LP now owns 53,691 shares of the company's stock worth $38,000 after buying an additional 42,321 shares during the last quarter. CM Management LLC increased its holdings in shares of Cognition Therapeutics by 100.0% in the 1st quarter. CM Management LLC now owns 400,000 shares of the company's stock worth $168,000 after buying an additional 200,000 shares during the last quarter. Finally, Acadian Asset Management LLC boosted 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 worth $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.

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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