HC Wainwright Issues Positive Forecast for Cognition Therapeutics (NASDAQ:CGTX) Stock Price

Cognition Therapeutics (NASDAQ:CGTX) had its price target raised by HC Wainwright from $5.00 to $6.00 in a report published on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $11.00 price target on shares of Cognition Therapeutics in a report on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.30.

Cognition Therapeutics Price Performance

Shares of NASDAQ CGTX traded down $0.02 during trading hours on Thursday, hitting $0.61. 2,507,341 shares of the company’s stock were exchanged, compared to its average volume of 2,060,611. Cognition Therapeutics has a 1-year low of $0.34 and a 1-year high of $2.95. The stock has a market capitalization of $25.35 million, a price-to-earnings ratio of -0.63 and a beta of 1.26. The company’s 50-day moving average price is $0.47 and its 200-day moving average price is $0.94.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CGTX. CM Management LLC boosted its stake in Cognition Therapeutics by 14.3% during the 2nd quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after acquiring an additional 25,000 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Cognition Therapeutics by 33.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock worth $159,000 after purchasing an additional 24,050 shares in the last quarter. Sigma Planning Corp raised its holdings 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 acquiring an additional 25,050 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Cognition Therapeutics in the third quarter valued at about $27,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

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.