Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Update

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 1,420,000 shares, a decline of 32.7% from the February 28th total of 2,110,000 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily volume of 6,990,000 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Cognition Therapeutics during the third quarter worth approximately $27,000. SG Americas Securities LLC purchased a new position in shares of Cognition Therapeutics in the 4th quarter worth $26,000. Sigma Planning Corp boosted its holdings in Cognition Therapeutics by 211.6% in the fourth quarter. Sigma Planning Corp now owns 614,490 shares of the company’s stock valued at $431,000 after acquiring an additional 417,300 shares during the last quarter. BIOS Capital Management LP acquired a new position in Cognition Therapeutics in the fourth quarter valued at $4,208,000. Finally, Geode Capital Management LLC grew its position in Cognition Therapeutics by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock valued at $247,000 after acquiring an additional 28,705 shares during the period. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

Cognition Therapeutics Stock Performance

NASDAQ CGTX traded down $0.00 during mid-day trading on Monday, reaching $0.41. 321,229 shares of the stock were exchanged, compared to its average volume of 2,493,029. The business’s fifty day simple moving average is $0.56 and its 200 day simple moving average is $0.54. The stock has a market capitalization of $25.53 million, a PE ratio of -0.42 and a beta of 1.03. Cognition Therapeutics has a 1-year low of $0.34 and a 1-year high of $2.95.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CGTX. HC Wainwright decreased their price target on Cognition Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. B. Riley raised Cognition Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $1.00 to $1.50 in a report on Thursday, December 19th. Brookline Capital Management upgraded Cognition Therapeutics to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Chardan Capital reduced their price target on shares of Cognition Therapeutics from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, March 21st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $7.13.

Cognition Therapeutics Company Profile

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.