Cognition Therapeutics (NASDAQ:CGTX) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Cognition Therapeutics was recently dropped from a "hold" to a "sell" rating by Wall Street Zen, highlighting a shift in analyst sentiment towards the company's stock.
• Despite this downgrade, other analysts continue to rate the stock positively, with Chardan Capital maintaining a "buy" rating" and a price target of $4.00.
• The stock has seen a 5.6% increase in trading, closing at $1.33, with a market cap of approximately $97.79 million.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

Other analysts have also issued research reports about the company. Chardan Capital reaffirmed a "buy" rating and set a $4.00 price objective on shares of Cognition Therapeutics in a research report on Friday, August 8th. HC Wainwright reaffirmed a "buy" rating and set a $3.00 price objective on shares of Cognition Therapeutics in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $2.83.

Cognition Therapeutics Trading Up 5.6%

Cognition Therapeutics stock traded up $0.07 during trading on Friday, hitting $1.33. The company had a trading volume of 1,550,955 shares, compared to its average volume of 3,806,409. Cognition Therapeutics has a 1-year low of $0.22 and a 1-year high of $3.83. The company's 50 day simple moving average is $1.60 and its 200-day simple moving average is $0.80. The stock has a market cap of $97.79 million, a price-to-earnings ratio of -1.99 and a beta of 1.33.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Northeast Financial Consultants Inc increased its stake in shares of Cognition Therapeutics by 158.6% during the first 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 period. Two Sigma Investments LP grew its position in Cognition Therapeutics by 372.2% during the fourth 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 period. CM Management LLC grew its position in Cognition Therapeutics by 100.0% during the first 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 period. Finally, Acadian Asset Management LLC grew its position in Cognition Therapeutics by 814.1% during the first quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company's stock worth $422,000 after buying an additional 897,353 shares during the period. 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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