Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Down 32.7% in March

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 1,420,000 shares, a drop of 32.7% from the February 28th total of 2,110,000 shares. Based on an average trading volume of 6,990,000 shares, the short-interest ratio is currently 0.2 days. Approximately 2.8% of the shares of the stock are short sold.

Institutional Trading of Cognition Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Cognition Therapeutics in the fourth quarter valued at approximately $26,000. Two Sigma Investments LP lifted its stake in shares of Cognition Therapeutics by 372.2% in the 4th quarter. Two Sigma Investments LP now owns 53,691 shares of the company’s stock valued at $38,000 after purchasing an additional 42,321 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Cognition Therapeutics during the third quarter valued at about $27,000. Geode Capital Management LLC raised its position 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 purchasing an additional 28,705 shares during the period. Finally, Voss Capital LP purchased a new stake in Cognition Therapeutics during the fourth quarter worth about $351,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

Cognition Therapeutics Price Performance

Shares of CGTX traded down $0.04 during mid-day trading on Friday, reaching $0.42. 430,544 shares of the company’s stock traded hands, compared to its average volume of 2,501,655. Cognition Therapeutics has a 12 month low of $0.34 and a 12 month high of $2.95. The stock has a market cap of $17.27 million, a P/E ratio of -0.43 and a beta of 1.03. The stock’s 50-day moving average is $0.56 and its two-hundred day moving average is $0.54.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). During the same quarter in the previous year, the company posted ($0.27) EPS. Research analysts predict that Cognition Therapeutics will post -0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CGTX. Brookline Capital Management upgraded Cognition Therapeutics to a “strong-buy” rating in a report on Monday, January 27th. Chardan Capital dropped their price objective on shares of Cognition Therapeutics from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. B. Riley raised Cognition Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $1.00 to $1.50 in a research report on Thursday, December 19th. Finally, HC Wainwright reduced their target price on Cognition Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $7.13.

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.