Short Interest in Cognition Therapeutics, Inc. (NASDAQ:CGTX) Increases By 41.3%

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 914,900 shares, a growth of 41.3% from the August 15th total of 647,500 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average trading volume of 968,500 shares, the short-interest ratio is presently 0.9 days.

Institutional Trading of Cognition Therapeutics

Large investors have recently modified their holdings of the business. Twin Focus Capital Partners LLC purchased a new stake in Cognition Therapeutics in the 4th quarter worth approximately $173,000. CM Management LLC lifted its stake in Cognition Therapeutics by 14.3% in the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after acquiring an additional 25,000 shares during the period. Levin Capital Strategies L.P. purchased a new position in Cognition Therapeutics during the 1st quarter valued at $55,000. Texas Capital Bank Wealth Management Services Inc bought a new position in Cognition Therapeutics in the 4th quarter worth $102,000. Finally, Hohimer Wealth Management LLC purchased a new stake in shares of Cognition Therapeutics in the 1st quarter worth about $410,000. 43.35% of the stock is owned by institutional investors.

Cognition Therapeutics Stock Performance

Shares of Cognition Therapeutics stock remained flat at $0.60 on Friday. 431,317 shares of the stock traded hands, compared to its average volume of 473,716. Cognition Therapeutics has a 1 year low of $0.54 and a 1 year high of $2.95. The firm has a 50 day moving average of $1.08 and a 200-day moving average of $1.66. The firm has a market cap of $24.08 million, a PE ratio of -0.65 and a beta of 1.41.

Cognition Therapeutics (NASDAQ:CGTX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. During the same quarter in the prior year, the business posted ($0.16) earnings per share. On average, equities analysts anticipate that Cognition Therapeutics will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on CGTX shares. Chardan Capital assumed coverage on Cognition Therapeutics in a research note on Thursday, June 6th. They issued a “buy” rating and a $11.00 target price on the stock. Cantor Fitzgerald lowered Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. HC Wainwright dropped their target price on Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Rodman & Renshaw reiterated a “buy” rating and set a $14.00 price target on shares of Cognition Therapeutics in a research report on Tuesday, July 2nd. Finally, B. Riley reissued a “neutral” rating and issued a $1.00 price target (down from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.00.

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.