B. Riley Reiterates “Neutral” Rating for Cognition Therapeutics (NASDAQ:CGTX)

B. Riley reiterated their neutral rating on shares of Cognition Therapeutics (NASDAQ:CGTX) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage currently has a $1.00 target price on the stock, down from their previous target price of $5.00.

Other research analysts have also recently issued research reports about the company. Cantor Fitzgerald cut Cognition Therapeutics from an overweight rating to a neutral rating in a research note on Tuesday, July 30th. Rodman & Renshaw reissued a buy rating and issued a $14.00 price objective on shares of Cognition Therapeutics in a research note on Tuesday, July 2nd. Chardan Capital assumed coverage on Cognition Therapeutics in a research note on Thursday, June 6th. They issued a buy rating and a $11.00 price objective on the stock. Finally, HC Wainwright dropped their price objective on Cognition Therapeutics from $10.00 to $7.00 and set a buy rating on the stock in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Cognition Therapeutics has a consensus rating of Moderate Buy and an average target price of $8.00.

Cognition Therapeutics Price Performance

Shares of CGTX traded down $0.04 during mid-day trading on Tuesday, reaching $0.55. 740,127 shares of the company’s stock traded hands, compared to its average volume of 476,138. The stock has a market cap of $21.92 million, a P/E ratio of -0.59 and a beta of 1.46. The stock’s 50-day moving average is $1.71 and its two-hundred day moving average is $1.92. Cognition Therapeutics has a 12 month low of $0.54 and a 12 month high of $2.95.

Cognition Therapeutics (NASDAQ:CGTX) last released its earnings results on Tuesday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Research analysts predict that Cognition Therapeutics will post -0.97 earnings per share for the current year.

Institutional Trading of Cognition Therapeutics

A number of hedge funds have recently bought and sold shares of CGTX. AWM Investment Company Inc. purchased a new stake in Cognition Therapeutics during the first quarter worth $1,183,000. Hohimer Wealth Management LLC purchased a new stake in Cognition Therapeutics during the first quarter worth $410,000. CM Management LLC purchased a new stake in Cognition Therapeutics during the first quarter worth $318,000. Twin Focus Capital Partners LLC purchased a new stake in Cognition Therapeutics during the fourth quarter worth $173,000. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new stake in Cognition Therapeutics during the fourth quarter worth $102,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

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.