Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Up 41.3% in August

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 914,900 shares, an increase of 41.3% from the August 15th total of 647,500 shares. Based on an average daily trading volume, of 968,500 shares, the short-interest ratio is currently 0.9 days. Currently, 2.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CGTX. B. Riley reiterated 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. Rodman & Renshaw reiterated a “buy” rating and set a $14.00 price objective on shares of Cognition Therapeutics in a research note on Tuesday, July 2nd. Cantor Fitzgerald cut shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. HC Wainwright reduced their price target on shares of Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Chardan Capital initiated coverage on shares of Cognition Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $11.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Hedge Funds Weigh In On Cognition Therapeutics

Several large investors have recently bought and sold shares of CGTX. AWM Investment Company Inc. acquired a new position in shares of Cognition Therapeutics during the first quarter worth $1,183,000. Hohimer Wealth Management LLC bought a new stake in shares of Cognition Therapeutics in the 1st quarter valued at about $410,000. CM Management LLC acquired a new stake in shares of Cognition Therapeutics in the first quarter valued at about $318,000. Twin Focus Capital Partners LLC bought a new position in shares of Cognition Therapeutics during the fourth quarter worth about $173,000. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Cognition Therapeutics in the fourth quarter worth approximately $102,000. 43.35% of the stock is currently owned by institutional investors.

Cognition Therapeutics Trading Down 0.1 %

NASDAQ:CGTX traded down $0.00 on Monday, hitting $0.60. The company had a trading volume of 18,075 shares, compared to its average volume of 471,157. Cognition Therapeutics has a 52 week low of $0.54 and a 52 week high of $2.95. The stock has a market capitalization of $24.01 million, a price-to-earnings ratio of -0.65 and a beta of 1.41. The firm has a 50 day moving average of $1.08 and a two-hundred day moving average of $1.65.

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

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.