Cognition Therapeutics (NASDAQ:CGTX) CEO Lisa Ricciardi Acquires 9,175 Shares of Stock

Cognition Therapeutics, Inc. (NASDAQ:CGTX) CEO Lisa Ricciardi bought 9,175 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was bought at an average cost of $1.10 per share, for a total transaction of $10,092.50. Following the completion of the purchase, the chief executive officer directly owned 1,715,851 shares of the company’s stock, valued at $1,887,436.10. This represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cognition Therapeutics Stock Down 5.9%

CGTX opened at $1.12 on Tuesday. The stock has a market cap of $100.07 million, a PE ratio of -3.39 and a beta of 1.39. Cognition Therapeutics, Inc. has a 52 week low of $0.22 and a 52 week high of $3.83. The business’s fifty day simple moving average is $1.03 and its 200 day simple moving average is $1.36.

Cognition Therapeutics (NASDAQ:CGTX) last released its earnings results on Thursday, March 26th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. As a group, equities analysts anticipate that Cognition Therapeutics, Inc. will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

CGTX has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Friday, March 27th. Chardan Capital reaffirmed a “buy” rating and issued a $4.00 target price on shares of Cognition Therapeutics in a research note on Friday, March 27th. Finally, raised Cognition Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 3rd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $3.33.

Hedge Funds Weigh In On Cognition Therapeutics

Large investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp bought a new stake in Cognition Therapeutics in the 3rd quarter worth $25,000. Essex Financial Services Inc. bought a new stake in Cognition Therapeutics in the 4th quarter worth $27,000. Gamco Investors INC. ET AL bought a new stake in Cognition Therapeutics in the 3rd quarter worth $27,000. Private Management Group Inc. bought a new stake in Cognition Therapeutics in the 3rd quarter worth $32,000. Finally, CWA Asset Management Group LLC bought a new stake in Cognition Therapeutics in the 3rd quarter worth $34,000. 43.35% of the stock is owned by hedge funds and other institutional investors.

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.