Cognition Therapeutics, Inc. (NASDAQ:CGTX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $8.00.

A number of equities analysts have recently issued reports on CGTX shares. Chardan Capital restated a “buy” rating and set a $11.00 price target on shares of Cognition Therapeutics in a research note on Friday, November 15th. B. Riley reissued a “neutral” rating and set a $1.00 target price (down previously from $5.00) on shares of Cognition Therapeutics in a research report on Tuesday, August 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Cognition Therapeutics in a research report on Wednesday.

Cognition Therapeutics Stock Down 1.6 %

Shares of NASDAQ:CGTX opened at $0.40 on Friday. The business’s 50 day moving average is $0.47 and its 200 day moving average is $1.11. The stock has a market cap of $16.53 million, a P/E ratio of -0.41 and a beta of 1.34. Cognition Therapeutics has a 52-week low of $0.34 and a 52-week high of $2.95.

Institutional Trading of Cognition Therapeutics

A number of institutional investors have recently modified their holdings of the company. Bangor Savings Bank raised its stake in shares of Cognition Therapeutics by 41.6% during the 2nd quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock worth $56,000 after acquiring an additional 10,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in Cognition Therapeutics in the third quarter valued at approximately $27,000. Mercer Global Advisors Inc. ADV grew its holdings in Cognition Therapeutics by 33.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock worth $159,000 after purchasing an additional 24,050 shares during the last quarter. Sigma Planning Corp increased its position in shares of Cognition Therapeutics by 14.6% during the third quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock worth $92,000 after purchasing an additional 25,050 shares in the last quarter. Finally, CM Management LLC lifted its holdings in shares of Cognition Therapeutics by 14.3% during the 2nd quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $332,000 after purchasing an additional 25,000 shares during the last quarter. 43.35% of the stock is currently owned by institutional investors.

About Cognition Therapeutics

Cognition Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina. Its lead product candidate is CT1812, an orally delivered molecule modulator designed to penetrate the blood-brain barrier and bind selectively to the S2R complex, which is in Phase 2 clinical trial for the treatment of Alzheimer's disease, as well as geographic atrophy secondary to dry age-related macular degeneration and synucleinopathies, such as dementia with Lewy bodies.