Cognition Therapeutics, Inc. (NASDAQ:CGTX) Short Interest Update

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

Institutional Investors Weigh In On Cognition Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGTX. Tocqueville Asset Management L.P. acquired a new position in Cognition Therapeutics in the 1st quarter valued at about $47,000. Levin Capital Strategies L.P. acquired a new position in Cognition Therapeutics in the 1st quarter worth about $55,000. Bangor Savings Bank grew its holdings in shares of Cognition Therapeutics by 41.6% during the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock worth $56,000 after purchasing an additional 10,000 shares during the last quarter. Sigma Planning Corp lifted its holdings in shares of Cognition Therapeutics by 14.6% during the third quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock worth $92,000 after purchasing an additional 25,050 shares during the period. Finally, 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 acquiring an additional 24,050 shares during the last quarter. Institutional investors and hedge funds own 43.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cognition Therapeutics Stock Down 4.7 %

CGTX stock traded down $0.03 during mid-day trading on Thursday, reaching $0.51. 247,050 shares of the stock traded hands, compared to its average volume of 494,413. The business has a 50-day moving average of $0.51 and a two-hundred day moving average of $1.22. Cognition Therapeutics has a 52 week low of $0.34 and a 52 week high of $2.95. The firm has a market capitalization of $20.53 million, a PE ratio of -0.57 and a beta of 1.34.

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.