Cognition Therapeutics (NASDAQ:CGTX) Upgraded at Wall Street Zen

Key Points

• Cognition Therapeutics has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more positive outlook for the stock.
• The company reported a loss of $0.11 EPS for the latest quarter, slightly beating analysts' expectations of a loss of $0.12 EPS.
• Recent hedge fund activity includes significant increases in positions from Two Sigma Investments and Acadian Asset Management, reflecting growing interest from institutional investors.

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

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

Cognition Therapeutics Stock Up 0.8%

NASDAQ CGTX opened at $2.61 on Friday. The company has a fifty day moving average of $1.23 and a two-hundred day moving average of $0.67. The firm has a market capitalization of $191.89 million, a price-to-earnings ratio of -3.90 and a beta of 1.33. Cognition Therapeutics has a 52 week low of $0.22 and a 52 week high of $3.83.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. Equities research analysts anticipate that Cognition Therapeutics will post -0.8 EPS for the current year.

Hedge Funds Weigh In On Cognition Therapeutics

Hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP increased its position 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 valued at $38,000 after acquiring an additional 42,321 shares during the period. CM Management LLC grew its position in Cognition Therapeutics by 100.0% during the 1st quarter. CM Management LLC now owns 400,000 shares of the company's stock worth $168,000 after purchasing an additional 200,000 shares during the period. Acadian Asset Management LLC grew its position in 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. Finally, Northeast Financial Consultants Inc grew its position in 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 purchasing an additional 38,851 shares during the period. 43.35% of the stock is 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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