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

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

Cognition Therapeutics Price Performance

CGTX traded down $0.00 during trading hours on Monday, reaching $0.41. 321,229 shares of the stock traded hands, compared to its average volume of 2,493,029. The firm’s fifty day simple moving average is $0.56 and its two-hundred day simple moving average is $0.54. The company has a market cap of $25.53 million, a price-to-earnings ratio of -0.42 and a beta of 1.03. Cognition Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.95.

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

Analysts Set New Price Targets

CGTX has been the subject of several recent research reports. B. Riley raised shares of Cognition Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $1.00 to $1.50 in a research report on Thursday, December 19th. HC Wainwright decreased their price target on shares of Cognition Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Chardan Capital cut their price objective 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. Finally, Brookline Capital Management raised Cognition Therapeutics to a “strong-buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cognition Therapeutics has an average rating of “Buy” and an average price target of $7.13.

Hedge Funds Weigh In On Cognition Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Cognition Therapeutics in the third quarter worth $27,000. SG Americas Securities LLC acquired a new position in Cognition Therapeutics during the 4th quarter worth $26,000. Sigma Planning Corp grew its holdings in Cognition Therapeutics by 211.6% during the 4th quarter. Sigma Planning Corp now owns 614,490 shares of the company’s stock worth $431,000 after acquiring an additional 417,300 shares in the last quarter. BIOS Capital Management LP bought a new stake in shares of Cognition Therapeutics in the 4th quarter worth about $4,208,000. Finally, Geode Capital Management LLC raised its stake in shares of 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 purchasing an additional 28,705 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.