Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Up 23.1% in January

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,810,000 shares, an increase of 23.1% from the December 31st total of 1,470,000 shares. Based on an average daily volume of 7,120,000 shares, the short-interest ratio is presently 0.3 days. Currently, 5.1% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages have weighed in on CGTX. B. Riley upgraded Cognition Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $1.00 to $1.50 in a report on Thursday, December 19th. HC Wainwright raised their target price on shares of Cognition Therapeutics from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Brookline Capital Management upgraded shares of Cognition Therapeutics to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Chardan Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Cognition Therapeutics in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cognition Therapeutics presently has a consensus rating of “Buy” and an average price target of $8.30.

Cognition Therapeutics Stock Down 5.9 %

Shares of CGTX opened at $0.72 on Friday. The company has a market capitalization of $30.04 million, a price-to-earnings ratio of -0.75 and a beta of 0.95. Cognition Therapeutics has a 52-week low of $0.34 and a 52-week high of $2.95. The stock has a 50 day moving average price of $0.62 and a 200 day moving average price of $0.68.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Cognition Therapeutics in the fourth quarter valued at $26,000. Virtu Financial LLC purchased a new position in shares of Cognition Therapeutics during the third quarter worth about $27,000. Finally, Sigma Planning Corp increased its position in shares of Cognition Therapeutics by 14.6% during 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 in the last quarter. 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.