HC Wainwright Reiterates “Buy” Rating for Cognition Therapeutics (NASDAQ:CGTX)

Cognition Therapeutics (NASDAQ:CGTX)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $5.00 target price on the stock.

Several other equities analysts also recently commented on CGTX. Chardan Capital reiterated a “buy” rating and set a $11.00 price target on shares of Cognition Therapeutics in a report on Friday, November 15th. Cantor Fitzgerald cut shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Finally, B. Riley restated a “neutral” rating and issued a $1.00 target price (down from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Cognition Therapeutics Price Performance

CGTX stock opened at $0.40 on Wednesday. Cognition Therapeutics has a 1-year low of $0.34 and a 1-year high of $2.95. The business has a 50 day simple moving average of $0.47 and a two-hundred day simple moving average of $1.11. The company has a market capitalization of $16.53 million, a price-to-earnings ratio of -0.41 and a beta of 1.34.

Hedge Funds Weigh In On Cognition Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bangor Savings Bank increased its holdings in shares of Cognition Therapeutics by 41.6% in the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after purchasing an additional 10,000 shares during the period. Virtu Financial LLC purchased a new position in Cognition Therapeutics during the 3rd quarter worth approximately $27,000. Mercer Global Advisors Inc. ADV lifted its stake in Cognition Therapeutics by 33.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after acquiring an additional 24,050 shares during the period. Sigma Planning Corp boosted its holdings 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 acquiring an additional 25,050 shares during the last quarter. Finally, CM Management LLC increased its stake in shares of Cognition Therapeutics by 14.3% in the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after acquiring an additional 25,000 shares during the period. 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.