Chardan Capital Reiterates “Buy” Rating for Cognition Therapeutics (NASDAQ:CGTX)

Cognition Therapeutics (NASDAQ:CGTX)‘s stock had its “buy” rating reaffirmed by research analysts at Chardan Capital in a note issued to investors on Thursday,Benzinga reports. They presently have a $11.00 price objective on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Cognition Therapeutics in a research report on Wednesday, November 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.30.

Cognition Therapeutics Stock Performance

Shares of CGTX stock opened at $0.63 on Thursday. Cognition Therapeutics has a 52-week low of $0.34 and a 52-week high of $2.95. The stock has a market cap of $26.18 million, a price-to-earnings ratio of -0.65 and a beta of 1.26. The firm’s 50-day moving average is $0.48 and its 200-day moving average is $0.93.

Institutional Trading of Cognition Therapeutics

Several hedge funds have recently added to or reduced their stakes in CGTX. CM Management LLC lifted its holdings in shares of Cognition Therapeutics by 14.3% during the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after buying an additional 25,000 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in Cognition Therapeutics by 33.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock worth $159,000 after acquiring an additional 24,050 shares during the period. Sigma Planning Corp raised its stake in Cognition Therapeutics by 14.6% in the 3rd quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock worth $92,000 after purchasing an additional 25,050 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Cognition Therapeutics in the 3rd quarter valued at about $27,000. 43.35% of the stock is owned by institutional investors and hedge funds.

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.