Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives $3.33 Consensus PT from Brokerages

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has received an average recommendation of “Moderate Buy” from the four brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $3.3333.

Several equities analysts have recently commented on the stock. raised shares of Cognition Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Friday, March 27th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $4.00 price target on shares of Cognition Therapeutics in a research report on Friday, March 27th.

Hedge Funds Weigh In On Cognition Therapeutics

Large investors have recently bought and sold shares of the business. DAVENPORT & Co LLC bought a new position in Cognition Therapeutics in the third quarter worth about $3,631,000. Chescapmanager LLC lifted its holdings in Cognition Therapeutics by 98.1% in 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. Virtu Financial LLC bought a new position in Cognition Therapeutics in the fourth quarter worth about $54,000. XTX Topco Ltd bought a new position in Cognition Therapeutics in the fourth quarter worth about $50,000. Finally, Marshall Wace LLP bought a new position in Cognition Therapeutics in the fourth quarter worth about $37,000. Institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Stock Performance

Shares of CGTX stock opened at $1.26 on Tuesday. Cognition Therapeutics has a one year low of $0.22 and a one year high of $3.83. The company’s 50-day simple moving average is $1.04 and its 200-day simple moving average is $1.35. The stock has a market capitalization of $112.58 million, a price-to-earnings ratio of -3.82 and a beta of 1.39.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings results 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, research analysts forecast that Cognition Therapeutics will post -0.31 EPS for the current year.

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.