Analysts Set Cognition Therapeutics, Inc. (NASDAQ:CGTX) Target Price at $3.33

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $3.3333.

Several research analysts have recently issued reports on CGTX shares. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Cognition Therapeutics in a report on Thursday, December 4th. Brookline Capital Acquisition upgraded Cognition Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 3rd. B. Riley Financial reiterated 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Monday, December 29th. Finally, Wall Street Zen raised Cognition Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th.

Cognition Therapeutics Trading Up 3.9%

CGTX stock opened at $1.06 on Monday. The stock has a market capitalization of $93.57 million, a P/E ratio of -2.21 and a beta of 1.25. Cognition Therapeutics has a 12 month low of $0.22 and a 12 month high of $3.83. The firm has a 50-day moving average price of $1.25 and a 200-day moving average price of $1.59.

Hedge Funds Weigh In On Cognition Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. DAVENPORT & Co LLC increased its holdings in Cognition Therapeutics by 6.8% in the fourth quarter. DAVENPORT & Co LLC now owns 2,871,836 shares of the company’s stock valued at $3,877,000 after purchasing an additional 182,500 shares during the period. Vanguard Group Inc. grew its position in shares of Cognition Therapeutics by 105.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock valued at $3,620,000 after buying an additional 1,377,263 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Cognition Therapeutics by 11,695.3% in the 4th 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 last quarter. Acadian Asset Management LLC increased its stake in shares of Cognition Therapeutics by 814.1% in the first quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock valued at $422,000 after buying an additional 897,353 shares during the period. Finally, Chescapmanager LLC raised its position in shares of Cognition Therapeutics by 98.1% during the third quarter. Chescapmanager LLC now owns 997,029 shares of the company’s stock worth $1,346,000 after acquiring an additional 493,770 shares during the last quarter. 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.