Cognition Therapeutics (NASDAQ:CGTX) Announces Earnings Results

by · The Cerbat Gem

Cognition Therapeutics (NASDAQ:CGTX – Get Free Report) issued its earnings results on Thursday. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01, FiscalAI reports.

Cognition Therapeutics Stock Up 4.3%

CGTX traded up $0.05 during trading on Friday, reaching $1.21. The stock had a trading volume of 693,484 shares, compared to its average volume of 1,087,619. The firm has a market capitalization of $108.11 million, a price-to-earnings ratio of -5.04 and a beta of 1.81. Cognition Therapeutics has a 1-year low of $0.22 and a 1-year high of $3.83. The stock has a 50 day moving average of $1.06 and a two-hundred day moving average of $1.32.

Wall Street Analysts Forecast Growth

CGTX has been the topic of a number of analyst reports. raised shares of Cognition Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. Chardan Capital reiterated a “buy” rating and set a $4.00 price objective on shares of Cognition Therapeutics in a research report on Friday, March 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Friday, March 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cognition Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $3.33.

View Our Latest Stock Report on Cognition Therapeutics

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. increased its holdings in shares of Cognition Therapeutics by 18.5% in the fourth quarter. Tocqueville Asset Management L.P. now owns 192,500 shares of the company’s stock valued at $260,000 after buying an additional 30,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Cognition Therapeutics by 35.9% in the fourth quarter. Renaissance Technologies LLC now owns 969,513 shares of the company’s stock valued at $1,309,000 after buying an additional 256,013 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cognition Therapeutics by 22.6% in the fourth quarter. Geode Capital Management LLC now owns 873,954 shares of the company’s stock valued at $1,180,000 after buying an additional 161,227 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Cognition Therapeutics in the third quarter valued at $138,000. Finally, Millennium Management LLC bought a new position in shares of Cognition Therapeutics in the third quarter valued at $757,000. Institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Company Profile

(Get Free Report)

Cognition Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing disease-modifying therapies for neurodegenerative disorders, with an emphasis on Alzheimer’s disease. The company’s lead investigational candidate, CT1812, is an oral small molecule that antagonizes the sigma-2 receptor complex to protect synapses from amyloid-beta oligomer toxicity. By targeting a novel mechanism of action, Cognition Therapeutics aims to slow or reverse cognitive decline in patients living with Alzheimer’s disease.

CT1812 has successfully completed Phase 1 safety studies and preliminary Phase 2a trials, and is currently being evaluated in multiple Phase 2 clinical studies across North America and Europe in patients with mild-to-moderate Alzheimer’s disease.

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