Cognition Therapeutics (NASDAQ:CGTX) Shares Up 4.6% – Still a Buy?

Cognition Therapeutics, Inc. (NASDAQ:CGTX)’s share price shot up 4.6% during trading on Monday . The stock traded as high as $1.17 and last traded at $1.14. 738,863 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 959,797 shares. The stock had previously closed at $1.09.

Analyst Ratings Changes

CGTX has been the topic of a number of research reports. Wall Street Zen upgraded Cognition Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. B. Riley reissued a “buy” rating and issued a $3.00 price target (up previously from $2.00) on shares of Cognition Therapeutics in a report on Friday, November 21st. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of Cognition Therapeutics in a report on Thursday, December 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Monday, December 29th. 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.com, Cognition Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.33.

Cognition Therapeutics Stock Performance

The company’s 50 day moving average price is $1.49 and its 200 day moving average price is $1.56. The company has a market cap of $100.63 million, a price-to-earnings ratio of -2.37 and a beta of 1.25.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CGTX. Jones Financial Companies Lllp acquired a new stake in Cognition Therapeutics during the 3rd quarter valued at $25,000. Gamco Investors INC. ET AL bought a new stake in shares of Cognition Therapeutics during the third quarter worth $27,000. Private Management Group Inc. bought a new stake in shares of Cognition Therapeutics during the third quarter worth $32,000. CWA Asset Management Group LLC acquired a new stake in shares of Cognition Therapeutics in the third quarter valued at $34,000. Finally, Raymond James Financial Inc. raised its holdings in shares of Cognition Therapeutics by 34.7% in the third quarter. Raymond James Financial Inc. now owns 29,641 shares of the company’s stock valued at $40,000 after buying an additional 7,641 shares during the last quarter. 43.35% of the stock is owned by institutional investors and hedge funds.

Cognition Therapeutics Company 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.