Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $8.30.

CGTX has been the topic of a number of recent research reports. Chardan Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Cognition Therapeutics in a research report on Thursday, December 19th. HC Wainwright upped their price objective on shares of Cognition Therapeutics from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, B. Riley raised shares of Cognition Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $1.00 to $1.50 in a report on Thursday, December 19th.

Hedge Funds Weigh In On Cognition Therapeutics

Several large investors have recently made changes to their positions in CGTX. Virtu Financial LLC acquired a new stake in Cognition Therapeutics during the third quarter valued at $27,000. Sigma Planning Corp increased its stake in shares of Cognition Therapeutics by 14.6% in the 3rd quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock valued at $92,000 after purchasing an additional 25,050 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Cognition Therapeutics by 33.4% in the 2nd 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 period. Finally, CM Management LLC boosted its position in Cognition Therapeutics by 14.3% during the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after purchasing an additional 25,000 shares in the last quarter. 43.35% of the stock is currently owned by institutional investors and hedge funds.

Cognition Therapeutics Stock Performance

Cognition Therapeutics stock opened at $0.75 on Tuesday. The business’s 50-day simple moving average is $0.50 and its two-hundred day simple moving average is $0.87. The company has a market cap of $31.16 million, a PE ratio of -0.77 and a beta of 1.26. Cognition Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.95.

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.