Cognition Therapeutics (NASDAQ:CGTX) CFO John Brendan Doyle Buys 10,000 Shares

Cognition Therapeutics, Inc. (NASDAQ:CGTX) CFO John Brendan Doyle acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average price of $1.13 per share, with a total value of $11,300.00. Following the completion of the purchase, the chief financial officer directly owned 627,509 shares in the company, valued at $709,085.17. The trade was a 1.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cognition Therapeutics Price Performance

Shares of NASDAQ CGTX opened at $1.12 on Tuesday. The stock has a market capitalization of $100.07 million, a P/E ratio of -3.39 and a beta of 1.39. Cognition Therapeutics, Inc. has a 1-year low of $0.22 and a 1-year high of $3.83. The business has a fifty day moving average price of $1.03 and a 200 day moving average price of $1.36.

Cognition Therapeutics (NASDAQ:CGTX) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. As a group, equities research analysts anticipate that Cognition Therapeutics, Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC purchased a new position in Cognition Therapeutics in the third quarter valued at $3,631,000. Chescapmanager LLC increased its holdings in Cognition Therapeutics by 98.1% in the third quarter. Chescapmanager LLC now owns 997,029 shares of the company’s stock valued at $1,346,000 after buying an additional 493,770 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in Cognition Therapeutics in the fourth quarter valued at $166,000. Northwestern Mutual Wealth Management Co. increased its holdings in Cognition Therapeutics by 11,695.3% in the fourth 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 in the last quarter. Finally, Sigma Planning Corp increased its holdings in Cognition Therapeutics by 70.1% in the fourth quarter. Sigma Planning Corp now owns 216,165 shares of the company’s stock valued at $295,000 after buying an additional 89,075 shares in the last quarter. Hedge funds and other institutional investors own 43.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CGTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Friday, March 27th. Chardan Capital restated a “buy” rating and set a $4.00 target price on shares of Cognition Therapeutics in a research note on Friday, March 27th. Finally, upgraded Cognition Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 3rd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cognition Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $3.33.

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.