Cognition Therapeutics (NASDAQ:CGTX) Receives Buy Rating from HC Wainwright

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

Several other equities research analysts have also recently weighed in on CGTX. Chardan Capital reissued a “buy” rating and set a $11.00 price target on shares of Cognition Therapeutics in a research report on Friday, November 15th. Cantor Fitzgerald lowered shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Finally, B. Riley restated a “neutral” rating and set a $1.00 price target (down previously from $5.00) on shares of Cognition Therapeutics in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Cognition Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Cognition Therapeutics Stock Performance

Shares of CGTX stock opened at $0.40 on Wednesday. The company has a market capitalization of $16.53 million, a P/E ratio of -0.41 and a beta of 1.34. Cognition Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.95. The stock has a 50 day moving average price of $0.47 and a two-hundred day moving average price of $1.12.

Institutional Trading of Cognition Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in shares of Cognition Therapeutics in the 3rd quarter worth approximately $27,000. Sigma Planning Corp grew its stake in Cognition Therapeutics by 14.6% in the third quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock worth $92,000 after purchasing an additional 25,050 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in 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 purchasing an additional 24,050 shares in the last quarter. CM Management LLC lifted its position in Cognition Therapeutics by 14.3% during the second 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 period. Finally, Bangor Savings Bank boosted its holdings 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 buying an additional 10,000 shares in the last quarter. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

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.