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

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a large growth in short interest in 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. Based on an average daily volume of 968,500 shares, the short-interest ratio is presently 0.9 days. Approximately 2.7% of the shares of the company are sold short.

Cognition Therapeutics Price Performance

Shares of NASDAQ CGTX remained flat at $0.60 during mid-day trading on Friday. The stock had a trading volume of 431,317 shares, compared to its average volume of 473,716. The business’s 50-day simple moving average is $1.08 and its 200-day simple moving average is $1.66. The firm has a market capitalization of $24.08 million, a P/E ratio of -0.65 and a beta of 1.41. Cognition Therapeutics has a one year low of $0.54 and a one year high of $2.95.

Cognition Therapeutics (NASDAQ:CGTX) last posted its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. During the same period in the previous year, the business posted ($0.16) EPS. As a group, research analysts forecast that Cognition Therapeutics will post -0.87 earnings per share for the current year.

Institutional Trading of Cognition Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CGTX. Tocqueville Asset Management L.P. purchased a new stake in shares of Cognition Therapeutics in the first quarter worth $47,000. Levin Capital Strategies L.P. purchased a new stake in shares of Cognition Therapeutics in the 1st quarter valued at about $55,000. Bangor Savings Bank raised its holdings in shares of Cognition Therapeutics by 41.6% in the 2nd quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after acquiring an additional 10,000 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Cognition Therapeutics during the 4th quarter valued at about $102,000. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Cognition Therapeutics by 33.4% during the second 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 in the last quarter. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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