Short Interest in Cognition Therapeutics, Inc. (NASDAQ:CGTX) Rises By 23.1%

Cognition Therapeutics, Inc. (NASDAQ:CGTX) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,810,000 shares, a growth of 23.1% from the December 31st total of 1,470,000 shares. Approximately 5.1% of the company’s stock are sold short. Based on an average daily trading volume, of 7,120,000 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. B. Riley upgraded shares of Cognition Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $1.00 to $1.50 in a research note on Thursday, December 19th. Brookline Capital Management upgraded Cognition Therapeutics to a “strong-buy” rating in a research report on Monday. HC Wainwright boosted their target price on Cognition Therapeutics from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Chardan Capital restated a “buy” rating and set a $11.00 price target on shares of Cognition Therapeutics in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $8.30.

Cognition Therapeutics Stock Up 1.0 %

NASDAQ CGTX opened at $0.77 on Friday. The firm has a market cap of $31.92 million, a P/E ratio of -0.79 and a beta of 0.95. Cognition Therapeutics has a 52-week low of $0.34 and a 52-week high of $2.95. The business’s 50-day moving average price is $0.61 and its 200 day moving average price is $0.69.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CGTX. Virtu Financial LLC acquired a new stake in shares of Cognition Therapeutics during the third quarter worth $27,000. 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 worth $92,000 after acquiring an additional 25,050 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Cognition Therapeutics in the 4th quarter worth $26,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

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.