Cognition Therapeutics, Inc. (NASDAQ:CGTX) Stock Has Average Price Target of $3.33

Key Points

• Analyst sentiment is moderately positive: Three of four analysts rate Cognition Therapeutics a buy, while one rates it a sell; the average 12-month price target is $3.33.
• Shares traded at $0.69 and have ranged from $0.55 to $1.82 over the past year. The stock is below its 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.04 per share, beating the consensus estimate of a $0.07 loss. Institutional investors and hedge funds own 43.35% of shares.

Cognition Therapeutics, Inc. (NASDAQ:CGTX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the four ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $3.33.

Several equities research analysts recently weighed in on CGTX shares. HC Wainwright restated a "buy" rating on shares of Cognition Therapeutics in a research note on Monday, October 5th. Wall Street Zen cut shares of Cognition Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cognition Therapeutics in a report on Monday, September 21st.

Cognition Therapeutics Price Performance

Shares of Cognition Therapeutics stock traded up $0.05 during trading on Friday, hitting $0.69. 282,194 shares of the stock were exchanged, compared to its average volume of 605,701. The firm's 50-day moving average price is $0.88 and its 200 day moving average price is $1.05. The stock has a market cap of $65.33 million, a price-to-earnings ratio of -4.58 and a beta of 1.84. Cognition Therapeutics has a 12-month low of $0.55 and a 12-month high of $1.82.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. As a group, research analysts forecast that Cognition Therapeutics will post -0.30 earnings per share for the current year.

Institutional Investors Weigh In On Cognition Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Cognition Therapeutics during the second quarter worth about $1,451,000. Bryn Mawr Trust Advisors LLC acquired a new stake in shares of Cognition Therapeutics during the second quarter worth about $33,000. Renaissance Technologies LLC lifted its holdings in shares of Cognition Therapeutics by 15.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,117,136 shares of the company's stock valued at $848,000 after purchasing an additional 147,623 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Cognition Therapeutics in the 2nd quarter valued at about $165,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of Cognition Therapeutics in the 2nd quarter valued at about $369,000. 43.35% of the stock is owned by hedge funds and other institutional investors.

About Cognition Therapeutics

Cognition Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for neurodegenerative diseases. The company's research centers on the sigma-2 receptor, also known as the sigma-2 receptor complex or PGRMC1, a target believed to play a role in the cellular mechanisms associated with synaptic dysfunction and neurodegeneration.

Cognition Therapeutics' lead product candidate is CT1812, an orally administered small-molecule therapy designed to modulate the sigma-2 receptor complex.

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