Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Update

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 531,400 shares, a decline of 25.1% from the September 15th total of 709,900 shares. Based on an average trading volume of 1,100,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 1.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CGTX. Rodman & Renshaw reaffirmed a “buy” rating and set a $14.00 target price on shares of Cognition Therapeutics in a research note on Tuesday, July 2nd. B. Riley reaffirmed a “neutral” rating and issued a $1.00 target price (down previously from $5.00) on shares of Cognition Therapeutics in a report on Tuesday, August 6th. HC Wainwright cut their target price 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, Cantor Fitzgerald lowered shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Cognition Therapeutics Stock Down 2.1 %

Cognition Therapeutics stock traded down $0.01 during mid-day trading on Friday, hitting $0.40. 322,663 shares of the stock were exchanged, compared to its average volume of 483,099. The firm’s fifty day simple moving average is $0.58 and its two-hundred day simple moving average is $1.45. Cognition Therapeutics has a 12 month low of $0.34 and a 12 month high of $2.95. The stock has a market capitalization of $16.04 million, a price-to-earnings ratio of -0.44 and a beta of 1.36.

Cognition Therapeutics (NASDAQ:CGTX) last released its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. During the same quarter last year, the business posted ($0.16) earnings per share. As a group, analysts forecast that Cognition Therapeutics will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cognition Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV lifted its stake 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 valued at $159,000 after buying an additional 24,050 shares during the period. CM Management LLC lifted its position in shares of 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 acquiring an additional 25,000 shares during the period. Bangor Savings Bank boosted its stake in Cognition Therapeutics by 41.6% during the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock worth $56,000 after acquiring an additional 10,000 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Cognition Therapeutics in the first quarter worth $55,000. Finally, AWM Investment Company Inc. bought a new stake in Cognition Therapeutics in the first quarter valued at $1,183,000. Institutional investors own 43.35% of the company’s stock.

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.