Short Interest in Cognition Therapeutics, Inc. (NASDAQ:CGTX) Expands By 270.7%

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a significant 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 trading volume of 1,440,000 shares, the short-interest ratio is presently 1.9 days. Approximately 7.7% of the shares of the company are sold short.

Hedge Funds Weigh In On Cognition Therapeutics

Several large investors have recently added to or reduced their stakes in CGTX. CM Management LLC increased its stake in shares of Cognition Therapeutics by 14.3% in the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after purchasing an additional 25,000 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Cognition Therapeutics by 33.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock worth $159,000 after buying an additional 24,050 shares in the last quarter. Sigma Planning Corp raised its holdings in Cognition Therapeutics by 14.6% during the third quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock valued at $92,000 after acquiring an additional 25,050 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Cognition Therapeutics in the third quarter valued at about $27,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Stock Down 3.9 %

Shares of NASDAQ CGTX traded down $0.02 during trading on Friday, hitting $0.49. The company had a trading volume of 483,436 shares, compared to its average volume of 751,551. The stock has a 50 day simple moving average of $0.46 and a 200 day simple moving average of $0.99. Cognition Therapeutics has a 12 month low of $0.34 and a 12 month high of $2.95.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CGTX shares. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Cognition Therapeutics in a research report on Wednesday, November 27th. 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Cognition Therapeutics has an average rating of “Moderate Buy” and an average price target of $8.00.

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.