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

Cognition Therapeutics, Inc. (NASDAQ:CGTX) saw a significant growth in short interest in 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. Currently, 5.1% of the company’s shares are short sold. Based on an average trading volume of 7,120,000 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of Cognition Therapeutics

Several hedge funds have recently added to or reduced their stakes in CGTX. Virtu Financial LLC purchased a new stake in shares of Cognition Therapeutics in the 3rd quarter valued at approximately $27,000. Sigma Planning Corp grew its stake 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Cognition Therapeutics in the fourth quarter valued at $26,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

Cognition Therapeutics Stock Up 1.0 %

Shares of CGTX stock opened at $0.77 on Friday. The firm has a 50 day moving average of $0.61 and a two-hundred day moving average of $0.69. The stock has a market capitalization of $31.92 million, a PE 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.

Analyst Upgrades and Downgrades

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

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.