HC Wainwright Issues Positive Forecast for Cognition Therapeutics (NASDAQ:CGTX) Stock Price

Cognition Therapeutics (NASDAQ:CGTX) had its target price lifted by HC Wainwright from $5.00 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Cognition Therapeutics in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Cognition Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $8.20.

Cognition Therapeutics Trading Up 27.5 %

Shares of CGTX stock opened at $0.58 on Thursday. Cognition Therapeutics has a 12-month low of $0.34 and a 12-month high of $2.95. The stock has a market capitalization of $24.10 million, a P/E ratio of -0.60 and a beta of 1.26. The firm’s 50 day moving average is $0.47 and its 200 day moving average is $0.94.

Hedge Funds Weigh In On Cognition Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CM Management LLC increased its position in 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 buying an additional 25,000 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Cognition Therapeutics by 33.4% during the 2nd 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 period. Sigma Planning Corp increased its holdings in 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 in the last quarter. Finally, Virtu Financial LLC bought a new stake in Cognition Therapeutics during the 3rd quarter worth approximately $27,000. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

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.