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

HC Wainwright reaffirmed their buy rating on shares of Cognition Therapeutics (NASDAQ:CGTX) in a research note released on Wednesday morning,Benzinga reports. They currently have a $5.00 target price on the stock.

Several other equities analysts have also issued reports on CGTX. Cantor Fitzgerald lowered Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. B. Riley reaffirmed a “neutral” rating and issued a $1.00 target price (down from $5.00) on shares of Cognition Therapeutics in a report on Tuesday, August 6th. Finally, 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognition Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Cognition Therapeutics Stock Down 1.6 %

CGTX stock opened at $0.40 on Wednesday. The business has a 50 day moving average of $0.47 and a 200 day moving average of $1.12. Cognition Therapeutics has a twelve month low of $0.34 and a twelve month high of $2.95. The firm has a market cap of $16.53 million, a PE ratio of -0.41 and a beta of 1.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CM Management LLC raised its stake in Cognition Therapeutics by 14.3% during the 2nd quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $332,000 after buying an additional 25,000 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Cognition Therapeutics by 33.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock worth $159,000 after acquiring an additional 24,050 shares during the period. Sigma Planning Corp increased its position in Cognition Therapeutics by 14.6% during the third 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. Virtu Financial LLC bought a new position in Cognition Therapeutics in the third quarter valued at about $27,000. Finally, Bangor Savings Bank grew its stake in shares of Cognition Therapeutics by 41.6% during the 2nd 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. 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.