Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Up 847.0% in February

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,110,000 shares, a growth of 847.0% from the February 13th total of 222,800 shares. Approximately 6.3% of the company’s shares are sold short. Based on an average daily volume of 7,060,000 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Cognition Therapeutics

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Cognition Therapeutics during the fourth quarter valued at approximately $26,000. Virtu Financial LLC purchased a new position in Cognition Therapeutics during the third quarter valued at approximately $27,000. Sigma Planning Corp increased its holdings in Cognition Therapeutics by 211.6% during the fourth quarter. Sigma Planning Corp now owns 614,490 shares of the company’s stock valued at $431,000 after buying an additional 417,300 shares during the period. Two Sigma Investments LP increased its holdings in Cognition Therapeutics by 372.2% during the fourth quarter. Two Sigma Investments LP now owns 53,691 shares of the company’s stock valued at $38,000 after buying an additional 42,321 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Cognition Therapeutics by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock valued at $247,000 after acquiring an additional 28,705 shares in the last quarter. 43.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CGTX has been the topic of a number of recent analyst reports. HC Wainwright increased their price objective on shares of Cognition Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Chardan Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Cognition Therapeutics in a research report on Wednesday, February 26th. Brookline Capital Management raised shares of Cognition Therapeutics to a “strong-buy” rating in a research report on Monday, January 27th. Finally, B. Riley raised shares of Cognition Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $1.00 to $1.50 in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $8.30.

Cognition Therapeutics Stock Up 3.8 %

Shares of CGTX stock opened at $0.42 on Thursday. The firm has a market cap of $17.63 million, a price-to-earnings ratio of -0.44 and a beta of 1.04. The company’s 50 day moving average is $0.63 and its 200 day moving average is $0.56. Cognition Therapeutics has a 52-week low of $0.34 and a 52-week high of $2.95.

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.