DAVENPORT & Co LLC Makes New Investment in Cognition Therapeutics, Inc. $CGTX

DAVENPORT & Co LLC purchased a new stake in Cognition Therapeutics, Inc. (NASDAQ:CGTX) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 2,689,336 shares of the company’s stock, valued at approximately $3,631,000. DAVENPORT & Co LLC owned about 3.66% of Cognition Therapeutics as of its most recent filing with the SEC.

Separately, Northeast Financial Consultants Inc grew its position in shares of Cognition Therapeutics by 158.6% in the first quarter. Northeast Financial Consultants Inc now owns 63,351 shares of the company’s stock valued at $27,000 after purchasing an additional 38,851 shares during the period. 43.35% of the stock is currently owned by institutional investors.

Cognition Therapeutics Trading Down 0.7%

Shares of Cognition Therapeutics stock opened at $1.45 on Friday. The business’s fifty day moving average price is $1.61 and its 200 day moving average price is $1.37. Cognition Therapeutics, Inc. has a twelve month low of $0.22 and a twelve month high of $3.83. The stock has a market capitalization of $127.99 million, a P/E ratio of -3.02 and a beta of 1.23.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. As a group, sell-side analysts predict that Cognition Therapeutics, Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CGTX shares. Wall Street Zen upgraded Cognition Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Cognition Therapeutics in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Monday. Finally, B. Riley reissued a “buy” rating and issued a $3.00 target price (up from $2.00) on shares of Cognition Therapeutics in a research report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.33.

Cognition Therapeutics Profile

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.