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

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 180,700 shares, a drop of 14.2% from the May 31st total of 210,600 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average trading volume of 144,300 shares, the short-interest ratio is presently 1.3 days.

Cognition Therapeutics Price Performance

Shares of NASDAQ:CGTX traded up $0.01 during trading on Monday, reaching $1.67. 79,644 shares of the stock were exchanged, compared to its average volume of 177,680. The stock has a fifty day moving average of $2.02 and a two-hundred day moving average of $2.01. Cognition Therapeutics has a 1-year low of $0.90 and a 1-year high of $2.95. The firm has a market cap of $66.90 million, a price-to-earnings ratio of -1.82 and a beta of 1.48.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Sell-side analysts forecast that Cognition Therapeutics will post -0.97 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. B. Riley restated a “buy” rating and set a $5.00 target price on shares of Cognition Therapeutics in a research report on Thursday, March 28th. Oppenheimer reaffirmed an “outperform” rating and set a $9.00 price objective on shares of Cognition Therapeutics in a research report on Wednesday, March 27th. HC Wainwright initiated coverage on shares of Cognition Therapeutics in a research report on Wednesday, May 29th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Chardan Capital assumed coverage on shares of Cognition Therapeutics in a report on Thursday, June 6th. They issued a “buy” rating and a $11.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $8.20.

Hedge Funds Weigh In On Cognition Therapeutics

Large investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. purchased a new stake in shares of Cognition Therapeutics in the first quarter worth approximately $1,183,000. Hohimer Wealth Management LLC bought a new position in Cognition Therapeutics during the 1st quarter valued at $410,000. CM Management LLC purchased a new position in Cognition Therapeutics during the 1st quarter worth $318,000. Twin Focus Capital Partners LLC bought a new stake in shares of Cognition Therapeutics in the 4th quarter worth $173,000. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Cognition Therapeutics in the fourth quarter valued at about $102,000. 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.