Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Up 270.7% in November

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 2,680,000 shares, a growth of 270.7% from the November 15th total of 723,000 shares. Based on an average daily volume of 1,440,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 7.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

CGTX has been the topic of several research analyst reports. Chardan Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Cognition Therapeutics in a report on Friday, November 15th. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Cognition Therapeutics in a report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cognition Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Cognition Therapeutics Price Performance

NASDAQ CGTX traded up $0.05 during mid-day trading on Wednesday, hitting $0.49. The stock had a trading volume of 1,804,843 shares, compared to its average volume of 745,468. The firm’s 50 day moving average is $0.46 and its 200 day moving average is $1.00. The stock has a market capitalization of $20.25 million, a price-to-earnings ratio of -0.45 and a beta of 1.26. Cognition Therapeutics has a twelve month low of $0.34 and a twelve month high of $2.95.

Institutional Investors Weigh In On Cognition Therapeutics

A number of large investors have recently made changes to their positions in the stock. CM Management LLC increased its holdings in shares of Cognition Therapeutics by 14.3% during the 2nd quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after buying an additional 25,000 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Cognition Therapeutics by 14.6% in the third 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 in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings 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 valued at $159,000 after purchasing an additional 24,050 shares during the period. Finally, Virtu Financial LLC purchased a new position in Cognition Therapeutics in the third quarter worth approximately $27,000. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

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.