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

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,110,000 shares, an increase of 847.0% from the February 13th total of 222,800 shares. Currently, 6.3% of the shares of the stock are sold short. Based on an average trading volume of 7,060,000 shares, the short-interest ratio is currently 0.3 days.

Cognition Therapeutics Stock Performance

Cognition Therapeutics stock traded up $0.02 during trading hours on Wednesday, reaching $0.43. 214,020 shares of the company’s stock traded hands, compared to its average volume of 1,861,900. Cognition Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.95. The firm’s 50 day moving average is $0.64 and its 200-day moving average is $0.56. The firm has a market capitalization of $17.82 million, a price-to-earnings ratio of -0.44 and a beta of 1.04.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CGTX. B. Riley upgraded Cognition Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $1.00 to $1.50 in a research report on Thursday, December 19th. Brookline Capital Management upgraded shares of Cognition Therapeutics to a “strong-buy” rating in a research report on Monday, January 27th. HC Wainwright raised their price objective on shares of Cognition Therapeutics from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Chardan Capital reiterated a “buy” rating and set a $11.00 target price on shares of Cognition Therapeutics in a research report on Wednesday, February 26th. One equities research 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. Based on data from MarketBeat, Cognition Therapeutics currently has a consensus rating of “Buy” and an average price target of $8.30.

Institutional Trading of Cognition Therapeutics

A number of institutional investors have recently bought and sold shares of the business. BIOS Capital Management LP acquired a new stake in shares of Cognition Therapeutics in the 4th quarter valued at approximately $4,208,000. Sigma Planning Corp increased its stake in Cognition Therapeutics by 211.6% in the fourth quarter. Sigma Planning Corp now owns 614,490 shares of the company’s stock valued at $431,000 after purchasing an additional 417,300 shares in the last quarter. Voss Capital LP acquired a new stake in Cognition Therapeutics in the fourth quarter worth $351,000. Geode Capital Management LLC boosted its position in shares of Cognition Therapeutics by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock worth $247,000 after purchasing an additional 28,705 shares in the last quarter. Finally, Virtu Financial LLC grew its holdings in shares of Cognition Therapeutics by 40.1% in the 4th quarter. Virtu Financial LLC now owns 80,180 shares of the company’s stock valued at $56,000 after buying an additional 22,949 shares during the period. Institutional investors and hedge funds own 43.35% of the company’s stock.

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.