Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Down 32.7% in March

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Brookline Capital Management upgraded Cognition Therapeutics to a “strong-buy” rating in a report on Monday, January 27th. B. Riley upgraded shares of Cognition Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $1.00 to $1.50 in a research note on Thursday, December 19th. Chardan Capital reduced their price objective on shares of Cognition Therapeutics from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, HC Wainwright dropped their price objective on Cognition Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $7.13.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC increased its position in Cognition Therapeutics by 40.1% during the fourth quarter. Virtu Financial LLC now owns 80,180 shares of the company’s stock worth $56,000 after purchasing an additional 22,949 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cognition Therapeutics by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock worth $247,000 after acquiring an additional 28,705 shares during the period. SG Americas Securities LLC acquired a new position in shares of Cognition Therapeutics during the fourth quarter worth $26,000. Two Sigma Investments LP boosted its stake in shares of 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 purchasing an additional 42,321 shares during the period. Finally, Sigma Planning Corp increased its stake 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 buying an additional 417,300 shares during the period. Hedge funds and other institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Stock Down 7.8 %

Shares of CGTX traded down $0.04 during trading hours on Friday, reaching $0.42. 430,544 shares of the company traded hands, compared to its average volume of 2,501,655. The stock has a market capitalization of $17.27 million, a PE ratio of -0.43 and a beta of 1.03. The stock has a fifty day simple moving average of $0.56 and a 200 day simple moving average of $0.54. 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). During the same period in the prior year, the business earned ($0.27) EPS. Research analysts predict that Cognition Therapeutics will post -0.8 EPS for the current fiscal year.

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.