Cognition Therapeutics (NASDAQ:CGTX) Stock Price Up 13.6% - Still a Buy?

Key Points

• Cognition Therapeutics' stock saw a significant increase of 13.6%, closing at $1.75, with trading volume notably up by 39% from the average.
• Analyst opinions are mixed; while Chardan Capital and HC Wainwright maintain a buy rating with target prices of $4.00 and $3.00 respectively, Weiss Ratings has issued a sell rating.
• Institutional investors have increased their stakes significantly, with Acadian Asset Management boosting its holdings by an impressive 814.1% during the last quarter.

Cognition Therapeutics, Inc. (NASDAQ:CGTX - Get Free Report) shares rose 13.6% during trading on Tuesday . The company traded as high as $1.79 and last traded at $1.75. Approximately 4,500,890 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 3,231,727 shares. The stock had previously closed at $1.54.

Analyst Ratings Changes

CGTX has been the topic of a number of research analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Cognition Therapeutics in a research report on Saturday, September 27th. Chardan Capital reissued a "buy" rating and issued a $4.00 target price on shares of Cognition Therapeutics in a research report on Friday, August 8th. HC Wainwright reissued a "buy" rating and issued a $3.00 target price on shares of Cognition Therapeutics in a research report on Thursday, June 26th. Finally, Wall Street Zen lowered Cognition Therapeutics from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $2.83.

Cognition Therapeutics Stock Up 13.6%

The stock has a market cap of $128.66 million, a PE ratio of -2.61 and a beta of 1.19. The firm has a fifty day moving average of $1.70 and a 200 day moving average of $0.86.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) last posted its 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. On average, equities research analysts forecast that Cognition Therapeutics, Inc. will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Cognition Therapeutics

Several large investors have recently bought and sold shares of CGTX. Two Sigma Investments LP increased 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 buying an additional 42,321 shares during the last quarter. CM Management LLC boosted its stake 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 in the last quarter. Northeast Financial Consultants Inc boosted its stake 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 in the last quarter. Finally, Acadian Asset Management LLC boosted its stake 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 in the last quarter. 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.

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