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

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 2,110,000 shares, an increase of 847.0% from the February 13th total of 222,800 shares. Currently, 6.3% of the company’s stock are short sold. Based on an average daily trading volume, of 7,060,000 shares, the days-to-cover ratio is presently 0.3 days.

Cognition Therapeutics Stock Performance

Shares of CGTX traded up $0.02 during trading hours on Wednesday, reaching $0.43. 214,020 shares of the company traded hands, compared to its average volume of 1,861,900. Cognition Therapeutics has a 1-year low of $0.34 and a 1-year high of $2.95. The stock has a market cap of $17.82 million, a P/E ratio of -0.44 and a beta of 1.04. The stock’s fifty day moving average is $0.64 and its 200 day moving average is $0.56.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CGTX shares. Brookline Capital Management upgraded shares of Cognition Therapeutics to a “strong-buy” rating in a research note on Monday, January 27th. HC Wainwright boosted their price target on Cognition Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. B. Riley raised Cognition Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $1.00 to $1.50 in a research report on Thursday, December 19th. Finally, Chardan Capital reissued a “buy” rating and issued a $11.00 price target on shares of Cognition Therapeutics in a research report on Wednesday, February 26th. One investment 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 company’s stock. According to data from MarketBeat, Cognition Therapeutics currently has an average rating of “Buy” and a consensus target price of $8.30.

Institutional Trading of Cognition Therapeutics

A number of hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Cognition Therapeutics in the fourth quarter worth $26,000. Virtu Financial LLC acquired a new stake in shares of Cognition Therapeutics during the 3rd quarter valued at about $27,000. Two Sigma Investments LP boosted its position in shares of Cognition Therapeutics by 372.2% during the 4th quarter. Two Sigma Investments LP now owns 53,691 shares of the company’s stock valued at $38,000 after acquiring an additional 42,321 shares in the last quarter. Sigma Planning Corp increased its stake in 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 acquiring an additional 25,050 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Cognition Therapeutics by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock valued at $247,000 after purchasing an additional 28,705 shares in the last quarter. Institutional investors 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.