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

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a significant increase in short interest in 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 company’s stock are short sold. Based on an average trading volume of 7,060,000 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

CGTX has been the subject of several recent analyst reports. Chardan Capital restated a “buy” rating and issued a $11.00 target price on shares of Cognition Therapeutics in a research note on Wednesday, February 26th. HC Wainwright lifted their price objective on shares of Cognition Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. B. Riley upgraded shares of Cognition Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $1.00 to $1.50 in a research note on Thursday, December 19th. Finally, Brookline Capital Management upgraded shares of Cognition Therapeutics to a “strong-buy” rating in a research note on Monday, January 27th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $8.30.

Cognition Therapeutics Price Performance

NASDAQ CGTX opened at $0.42 on Thursday. The company has a market capitalization of $17.63 million, a PE ratio of -0.44 and a beta of 1.04. The company has a fifty day moving average of $0.63 and a 200 day moving average of $0.56. Cognition Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGTX. SG Americas Securities LLC purchased a new position in Cognition Therapeutics in the fourth quarter valued at $26,000. Virtu Financial LLC purchased a new position in Cognition Therapeutics in the third quarter valued at $27,000. Sigma Planning Corp increased its holdings 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 buying an additional 417,300 shares in the last quarter. Two Sigma Investments LP increased its holdings in Cognition Therapeutics by 372.2% in the fourth quarter. Two Sigma Investments LP now owns 53,691 shares of the company’s stock valued at $38,000 after buying an additional 42,321 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Cognition Therapeutics by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock valued at $247,000 after buying an additional 28,705 shares in the last quarter. 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.