Cognition Therapeutics (NASDAQ:CGTX) Trading Up 3.3% – Here’s What Happened

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) were up 3.3% during trading on Monday . The stock traded as high as $0.9738 and last traded at $0.9494. Approximately 411,322 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 1,312,494 shares. The stock had previously closed at $0.9195.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CGTX. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Wednesday, June 24th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of Cognition Therapeutics in a research report on Monday, June 22nd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Cognition Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $3.33.

Cognition Therapeutics Price Performance

The company has a market capitalization of $80.65 million, a price-to-earnings ratio of -3.75 and a beta of 1.75. The firm’s fifty day moving average price is $1.17 and its 200-day moving average price is $1.15.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. On average, research analysts predict that Cognition Therapeutics, Inc. will post -0.32 earnings per share for the current year.

Institutional Trading of Cognition Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cognition Therapeutics by 11,695.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company’s stock valued at $2,781,000 after buying an additional 2,042,815 shares during the period. Sigma Planning Corp lifted its position in shares of Cognition Therapeutics by 70.1% during the 4th quarter. Sigma Planning Corp now owns 216,165 shares of the company’s stock valued at $295,000 after acquiring an additional 89,075 shares during the period. CM Management LLC bought a new position in Cognition Therapeutics during the fourth quarter worth $270,000. Virtu Financial LLC bought a new position in Cognition Therapeutics during the fourth quarter worth $54,000. Finally, XTX Topco Ltd acquired a new stake in Cognition Therapeutics in the fourth quarter worth $50,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

About Cognition Therapeutics

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.