Cognition Therapeutics (NASDAQ:CGTX) Price Target Cut to $5.00 by Analysts at HC Wainwright

Cognition Therapeutics (NASDAQ:CGTX) had its target price lowered by HC Wainwright from $6.00 to $5.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on CGTX. Chardan Capital lowered their target price on shares of Cognition Therapeutics from $11.00 to $8.00 and set a “buy” rating for the company in a report on Friday. Brookline Capital Management raised Cognition Therapeutics to a “strong-buy” rating in a report on Monday, January 27th. Finally, B. Riley upgraded Cognition Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $1.00 to $1.50 in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $7.50.

Cognition Therapeutics Stock Performance

NASDAQ:CGTX opened at $0.49 on Monday. Cognition Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.95. The stock has a market cap of $20.35 million, a P/E ratio of -0.50 and a beta of 1.03. The stock has a 50-day simple moving average of $0.58 and a 200-day simple moving average of $0.55.

Cognition Therapeutics (NASDAQ:CGTX) last posted its earnings results on Thursday, March 20th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). During the same period in the previous year, the firm posted ($0.27) earnings per share. On average, equities research analysts predict that Cognition Therapeutics will post -0.8 EPS for the current year.

Institutional Trading of Cognition Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in shares of Cognition Therapeutics during the third quarter worth approximately $27,000. SG Americas Securities LLC purchased a new position in Cognition Therapeutics during the 4th quarter worth $26,000. Sigma Planning Corp lifted its stake in shares of Cognition Therapeutics by 211.6% in the 4th quarter. Sigma Planning Corp now owns 614,490 shares of the company’s stock worth $431,000 after acquiring an additional 417,300 shares during the period. BIOS Capital Management LP purchased a new stake in shares of Cognition Therapeutics in the fourth quarter valued at about $4,208,000. Finally, Geode Capital Management LLC raised its holdings in Cognition Therapeutics by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock worth $247,000 after purchasing an additional 28,705 shares in the last quarter. 43.35% of the stock is 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.