Cognition Therapeutics, Inc. (NASDAQ:CGTX) Sees Significant Increase in Short Interest

Cognition Therapeutics, Inc. (NASDAQ:CGTX – Get Rating) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 12,600 shares, a growth of 44.8% from the March 31st total of 8,700 shares. Based on an average daily trading volume, of 73,800 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

A number of hedge funds have recently added to or reduced their stakes in CGTX. P.A.W. Capital Corp bought a new position in Cognition Therapeutics in the 4th quarter valued at approximately $632,000. AIGH Capital Management LLC bought a new position in Cognition Therapeutics in the 4th quarter valued at approximately $161,000. American Financial Group Inc. bought a new position in Cognition Therapeutics in the 4th quarter valued at approximately $1,296,000. B. Riley Financial Inc. bought a new position in Cognition Therapeutics in the 4th quarter valued at approximately $195,000. Finally, Renaissance Technologies LLC bought a new position in Cognition Therapeutics in the 4th quarter valued at approximately $74,000. 18.26% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on CGTX. LADENBURG THALM/SH SH began coverage on Cognition Therapeutics in a research note on Friday, April 22nd. They issued a “buy” rating and a $10.00 price target on the stock. Zacks Investment Research downgraded Cognition Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, April 4th. Finally, B. Riley cut their price target on Cognition Therapeutics from $27.00 to $20.00 in a research note on Monday, January 24th.

CGTX stock opened at $2.77 on Friday. Cognition Therapeutics has a 12-month low of $2.31 and a 12-month high of $13.80. The stock’s 50 day simple moving average is $2.88 and its 200 day simple moving average is $6.00.

Cognition Therapeutics Company Profile (Get Rating)

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, a sigma-2 receptor antagonist, which is in phase 2 clinical trial for the treatment of mild-to-moderate Alzheimer's disease, as well as has completed phase 1 clinical trial to treat early-stage Alzheimer's disease; and in preclinical trial to treat dementia with Lewy bodies (DLB) and dry age-related macular degeneration (AMD).

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