Short Interest in Cognition Therapeutics, Inc. (NASDAQ:CGTX) Drops By 32.7%

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

Institutional Trading of Cognition Therapeutics

Several hedge funds have recently modified their holdings of CGTX. SG Americas Securities LLC acquired a new stake in Cognition Therapeutics in the fourth quarter worth $26,000. Two Sigma Investments LP grew 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 buying an additional 42,321 shares during the period. Virtu Financial LLC acquired a new stake in shares of Cognition Therapeutics in the 3rd quarter valued at about $27,000. Geode Capital Management LLC increased its position in Cognition Therapeutics by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock valued at $247,000 after buying an additional 28,705 shares in the last quarter. Finally, Voss Capital LP acquired a new position in Cognition Therapeutics during the 4th quarter worth approximately $351,000. Institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Stock Performance

Shares of CGTX traded down $0.04 during mid-day trading on Friday, reaching $0.42. 430,544 shares of the company were exchanged, compared to its average volume of 2,501,655. Cognition Therapeutics has a 52 week low of $0.34 and a 52 week high of $2.95. The business has a 50 day simple moving average of $0.56 and a two-hundred day simple moving average of $0.54. The stock has a market capitalization of $17.27 million, a PE ratio of -0.43 and a beta of 1.03.

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

Wall Street Analysts Forecast Growth

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

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.