Cognition Therapeutics (NASDAQ:CGTX) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Cognition Therapeutics from “hold” to “sell,” though analyst sentiment remains mixed: HC Wainwright reiterated “buy,” and the overall consensus is “Moderate Buy” with a $3.33 target price.
• CGTX shares opened at $1.01, with a market capitalization of about $96 million and a 52-week range of $0.55 to $3.83. The company reported a quarterly loss of $0.04 per share, beating estimates by $0.02.
• Cognition Therapeutics is developing CT1812, an oral investigational treatment for Alzheimer’s disease, which is undergoing multiple Phase 2 studies after completing Phase 1 safety and preliminary Phase 2a trials.

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 note issued to investors on Saturday.

Other analysts have also recently issued reports about the stock. HC Wainwright reissued a "buy" rating on shares of Cognition Therapeutics in a research note on Thursday. Weiss Ratings restated a "sell (d-)" rating on shares of Cognition Therapeutics in a research report on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $3.33.

Cognition Therapeutics Stock Down 2.9%

Shares of NASDAQ CGTX opened at $1.01 on Friday. Cognition Therapeutics has a 12-month low of $0.55 and a 12-month high of $3.83. The firm's 50-day simple moving average is $1.10 and its 200 day simple moving average is $1.11. The company has a market cap of $96.04 million, a price-to-earnings ratio of -5.94 and a beta of 1.77.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. On average, equities analysts expect that Cognition Therapeutics will post -0.32 earnings per share for the current year.

Institutional Trading of Cognition Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGTX. Vanguard Group Inc. lifted its position in Cognition Therapeutics by 105.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company's stock valued at $3,620,000 after purchasing an additional 1,377,263 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Cognition Therapeutics by 11,695.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company's stock worth $2,781,000 after buying an additional 2,042,815 shares during the period. BlackRock Inc. acquired a new stake in shares of Cognition Therapeutics during the 2nd quarter worth approximately $1,451,000. Renaissance Technologies LLC raised its stake in shares of Cognition Therapeutics by 15.2% during the first quarter. Renaissance Technologies LLC now owns 1,117,136 shares of the company's stock worth $848,000 after buying an additional 147,623 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of 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 last quarter. 43.35% of the stock is owned by institutional investors.

About Cognition Therapeutics

Cognition Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing disease-modifying therapies for neurodegenerative disorders, with an emphasis on Alzheimer's disease. The company's lead investigational candidate, CT1812, is an oral small molecule that antagonizes the sigma-2 receptor complex to protect synapses from amyloid-beta oligomer toxicity. By targeting a novel mechanism of action, Cognition Therapeutics aims to slow or reverse cognitive decline in patients living with Alzheimer's disease.

CT1812 has successfully completed Phase 1 safety studies and preliminary Phase 2a trials, and is currently being evaluated in multiple Phase 2 clinical studies across North America and Europe in patients with mild-to-moderate Alzheimer's disease.

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