Renaissance Technologies LLC Lowers Stake in Cognition Therapeutics, Inc. (NASDAQ:CGTX)

Renaissance Technologies LLC lessened its stake in shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) by 42.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,718 shares of the company’s stock after selling 65,982 shares during the period. Renaissance Technologies LLC’s holdings in Cognition Therapeutics were worth $149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CGTX. CM Management LLC boosted its position in Cognition Therapeutics by 14.3% in the 2nd 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. Bangor Savings Bank increased its stake in Cognition Therapeutics by 41.6% during the 2nd quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after purchasing an additional 10,000 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Cognition Therapeutics during the 1st quarter worth about $55,000. AWM Investment Company Inc. purchased a new stake in shares of Cognition Therapeutics in the 1st quarter valued at $1,183,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in Cognition Therapeutics during the first quarter worth about $47,000. 43.35% of the stock is owned by hedge funds and other institutional investors.

Cognition Therapeutics Price Performance

NASDAQ:CGTX opened at $0.40 on Monday. The business’s 50-day moving average is $0.58 and its two-hundred day moving average is $1.45. The firm has a market capitalization of $16.04 million, a PE ratio of -0.44 and a beta of 1.36. Cognition Therapeutics, Inc. has a 12 month low of $0.34 and a 12 month high of $2.95.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. During the same quarter last year, the company posted ($0.16) EPS. Equities analysts anticipate that Cognition Therapeutics, Inc. will post -0.96 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on CGTX shares. B. Riley restated a “neutral” rating and set a $1.00 price objective (down from $5.00) on shares of Cognition Therapeutics in a research report on Tuesday, August 6th. HC Wainwright reduced their target price on shares of Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Cantor Fitzgerald lowered Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Finally, Rodman & Renshaw reiterated a “buy” rating and issued a $14.00 target price on shares of Cognition Therapeutics in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Cognition Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $8.00.

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.