HC Wainwright Cuts Cognition Therapeutics (NASDAQ:CGTX) Price Target to $5.00

Cognition Therapeutics (NASDAQ:CGTX) had its target price reduced by investment analysts at HC Wainwright from $6.00 to $5.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Chardan Capital reduced their price target on shares of Cognition Therapeutics from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Friday. B. Riley raised Cognition Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $1.00 to $1.50 in a report on Thursday, December 19th. Finally, Brookline Capital Management upgraded Cognition Therapeutics to a “strong-buy” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cognition Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $7.50.

Cognition Therapeutics Stock Performance

Shares of NASDAQ CGTX opened at $0.45 on Monday. The stock’s 50-day simple moving average is $0.58 and its 200-day simple moving average is $0.55. The firm has a market capitalization of $18.90 million, a PE ratio of -0.47 and a beta of 1.03. Cognition Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.95.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). During the same period in the prior year, the business earned ($0.27) EPS. On average, sell-side analysts forecast that Cognition Therapeutics will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cognition Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CGTX. Virtu Financial LLC raised its stake in Cognition Therapeutics by 40.1% during the 4th quarter. Virtu Financial LLC now owns 80,180 shares of the company’s stock valued at $56,000 after acquiring an additional 22,949 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cognition Therapeutics by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock valued at $247,000 after purchasing an additional 28,705 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Cognition Therapeutics during the fourth quarter worth approximately $26,000. Two Sigma Investments LP lifted its holdings in shares of Cognition Therapeutics by 372.2% during the fourth quarter. Two Sigma Investments LP now owns 53,691 shares of the company’s stock worth $38,000 after purchasing an additional 42,321 shares during the period. Finally, Sigma Planning Corp grew its position in Cognition Therapeutics by 211.6% in the 4th quarter. Sigma Planning Corp now owns 614,490 shares of the company’s stock valued at $431,000 after buying an additional 417,300 shares during the last quarter. Hedge funds and other institutional investors own 43.35% of the company’s stock.

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.