John Brendan Doyle Purchases 10,000 Shares of Cognition Therapeutics (NASDAQ:CGTX) Stock

Key Points

• CFO John Brendan Doyle bought 10,000 shares on April 16 at an average price of $1.13 (total $11,300), increasing his stake to 627,509 shares; the purchase was disclosed in an SEC filing.
• CGTX traded down to $1.12 (a 5.9% drop) with roughly 1.0M shares changing hands, a market cap around $100M, a 12‑month range of $0.22–$3.83, and a negative P/E of -3.39.
• Analysts hold a consensus rating of "Moderate Buy" with an average target of $3.33 (three Buys, one Sell), while institutional ownership is about 43.35%; Cognition is a clinical‑stage biotech developing CT1812 for Alzheimer’s disease.

Cognition Therapeutics, Inc. (NASDAQ:CGTX - Get Free Report) CFO John Brendan Doyle acquired 10,000 shares of the firm's stock in a transaction on Thursday, April 16th. The stock was purchased at an average cost of $1.13 per share, for a total transaction of $11,300.00. Following the completion of the acquisition, the chief financial officer owned 627,509 shares in the company, valued at approximately $709,085.17. This represents a 1.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cognition Therapeutics Trading Down 5.9%

CGTX stock traded down $0.07 during trading hours on Monday, hitting $1.12. 1,002,761 shares of the stock were exchanged, compared to its average volume of 1,047,733. Cognition Therapeutics, Inc. has a 12 month low of $0.22 and a 12 month high of $3.83. The firm has a market capitalization of $100.07 million, a P/E ratio of -3.39 and a beta of 1.39. The company has a 50-day simple moving average of $1.03 and a two-hundred day simple moving average of $1.36.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) last announced its earnings results on Thursday, March 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.04. On average, equities research analysts predict that Cognition Therapeutics, Inc. will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CGTX has been the topic of several recent research reports. Chardan Capital reaffirmed a "buy" rating and set a $4.00 target price on shares of Cognition Therapeutics in a report on Friday, March 27th. upgraded Cognition Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Cognition Therapeutics in a research report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $3.33.

Institutional Investors Weigh In On Cognition Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGTX. DAVENPORT & Co LLC increased its stake in shares of Cognition Therapeutics by 6.8% in the 4th quarter. DAVENPORT & Co LLC now owns 2,871,836 shares of the company's stock valued at $3,877,000 after purchasing an additional 182,500 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Cognition Therapeutics by 105.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company's stock worth $3,620,000 after buying an additional 1,377,263 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted 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 last quarter. Acadian Asset Management LLC lifted its position in shares of 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 buying an additional 897,353 shares during the last quarter. Finally, Chescapmanager LLC boosted its stake in Cognition Therapeutics by 98.1% in the third quarter. Chescapmanager LLC now owns 997,029 shares of the company's stock valued at $1,346,000 after buying an additional 493,770 shares in the last quarter. 43.35% of the stock is currently owned by institutional investors.

Cognition Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.