Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Up 66.2% in October

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 815,700 shares, a growth of 66.2% from the October 15th total of 490,700 shares. Approximately 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 538,500 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analyst Weigh In

CGTX has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Cognition Therapeutics in a research note on Monday, November 4th. B. Riley reaffirmed a “neutral” rating and set a $1.00 target price (down from $5.00) on shares of Cognition Therapeutics in a research report on Tuesday, August 6th. Chardan Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Cognition Therapeutics in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald lowered Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Cognition Therapeutics Stock Down 4.7 %

CGTX stock traded down $0.03 during trading on Thursday, hitting $0.51. 247,050 shares of the company’s stock traded hands, compared to its average volume of 494,413. The stock has a fifty day moving average price of $0.51 and a two-hundred day moving average price of $1.22. The stock has a market capitalization of $20.53 million, a price-to-earnings ratio of -0.57 and a beta of 1.34. Cognition Therapeutics has a 52 week low of $0.34 and a 52 week high of $2.95.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CGTX. Tocqueville Asset Management L.P. bought a new position in Cognition Therapeutics in the 1st quarter valued at about $47,000. Levin Capital Strategies L.P. acquired a new stake in Cognition Therapeutics during the 1st quarter worth about $55,000. Bangor Savings Bank increased its stake in Cognition Therapeutics by 41.6% in the 2nd quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after buying an additional 10,000 shares during the period. Sigma Planning Corp lifted its stake in shares of Cognition Therapeutics by 14.6% in the 3rd quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock valued at $92,000 after purchasing an additional 25,050 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in Cognition Therapeutics by 33.4% in the second 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. 43.35% of the stock is currently owned by institutional investors.

Cognition Therapeutics Company Profile

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.