Cognition Therapeutics (NASDAQ:CGTX) Given “Buy” Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Cognition Therapeutics (NASDAQ:CGTX) in a report issued on Friday,Benzinga reports. Chardan Capital currently has a $11.00 target price on the stock.

Several other brokerages have also recently issued reports on CGTX. B. Riley reaffirmed a “neutral” rating and set a $1.00 target price (down previously from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Cantor Fitzgerald cut shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Cognition Therapeutics in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Cognition Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Cognition Therapeutics Stock Performance

Cognition Therapeutics stock opened at $0.46 on Friday. The company’s fifty day moving average price is $0.50 and its 200 day moving average price is $1.19. Cognition Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.95. The stock has a market capitalization of $19.23 million, a P/E ratio of -0.48 and a beta of 1.34.

Hedge Funds Weigh In On Cognition Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. acquired a new position in Cognition Therapeutics in the first quarter valued at approximately $47,000. CM Management LLC acquired a new position in Cognition Therapeutics in the first quarter valued at approximately $318,000. AWM Investment Company Inc. acquired a new position in Cognition Therapeutics in the first quarter valued at approximately $1,183,000. Levin Capital Strategies L.P. acquired a new position in Cognition Therapeutics in the first quarter valued at approximately $55,000. Finally, Bangor Savings Bank lifted 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 valued at $56,000 after buying an additional 10,000 shares during the last quarter. 43.35% of the stock is owned by institutional investors and hedge funds.

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.