Cognition Therapeutics, Inc. (NASDAQ:CGTX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $8.00.

Several equities analysts have commented on the stock. Chardan Capital reiterated a “buy” rating and set a $11.00 price objective on shares of Cognition Therapeutics in a research report on Friday, November 15th. B. Riley reaffirmed a “neutral” rating and issued a $1.00 price target (down previously from $5.00) on shares of Cognition Therapeutics in a report on Tuesday, August 6th. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Cognition Therapeutics in a research note on Wednesday.

Hedge Funds Weigh In On Cognition Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. CM Management LLC boosted its position in shares of Cognition Therapeutics by 14.3% during the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $332,000 after buying an additional 25,000 shares during the period. Sigma Planning Corp boosted its holdings in Cognition Therapeutics by 14.6% during the 3rd quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock valued at $92,000 after acquiring an additional 25,050 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Cognition Therapeutics by 33.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after acquiring an additional 24,050 shares during the last quarter. Virtu Financial LLC bought a new position in Cognition Therapeutics in the 3rd quarter valued at $27,000. Finally, Bangor Savings Bank increased its stake in Cognition Therapeutics by 41.6% in the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock worth $56,000 after purchasing an additional 10,000 shares during the period. 43.35% of the stock is currently owned by institutional investors.

Cognition Therapeutics Price Performance

Shares of CGTX opened at $0.40 on Friday. The stock has a market capitalization of $16.53 million, a price-to-earnings ratio of -0.41 and a beta of 1.34. Cognition Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.95. The business’s 50 day simple moving average is $0.47 and its 200-day simple moving average is $1.11.

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.