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

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have received an average rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $8.30.

A number of research firms have weighed in on CGTX. HC Wainwright upped their target price on Cognition Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Brookline Capital Management raised shares of Cognition Therapeutics to a “strong-buy” rating in a research report on Monday, January 27th. Chardan Capital reissued a “buy” rating and set a $11.00 target price on shares of Cognition Therapeutics in a research report on Wednesday, February 26th. Finally, B. Riley raised shares of Cognition Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $1.00 to $1.50 in a report on Thursday, December 19th.

Cognition Therapeutics Stock Performance

NASDAQ:CGTX opened at $0.45 on Friday. The firm has a 50-day simple moving average of $0.62 and a 200-day simple moving average of $0.56. Cognition Therapeutics has a one year low of $0.34 and a one year high of $2.95. The firm has a market cap of $18.59 million, a P/E ratio of -0.46 and a beta of 1.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Cognition Therapeutics during the fourth quarter valued at $26,000. Two Sigma Investments LP increased its stake in shares of Cognition Therapeutics by 372.2% in the 4th quarter. Two Sigma Investments LP now owns 53,691 shares of the company’s stock valued at $38,000 after purchasing an additional 42,321 shares in the last quarter. Virtu Financial LLC acquired a new position in Cognition Therapeutics in the 3rd quarter worth about $27,000. Sigma Planning Corp boosted its position in 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, Geode Capital Management LLC grew its holdings in 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. 43.35% of the stock is currently owned by institutional investors and hedge funds.

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.