Cognition Therapeutics (NASDAQ:CGTX) Releases Quarterly Earnings Results

Cognition Therapeutics (NASDAQ:CGTXGet Rating) announced its quarterly earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.12, MarketWatch Earnings reports.

CGTX traded up $0.09 on Thursday, hitting $2.59. 61,409 shares of the company traded hands, compared to its average volume of 78,098. Cognition Therapeutics has a 12-month low of $2.31 and a 12-month high of $13.80. The company has a 50 day moving average of $2.88 and a 200-day moving average of $5.48.

Several institutional investors have recently bought and sold shares of CGTX. BlackRock Inc. bought a new position in Cognition Therapeutics during the fourth quarter worth $51,000. Renaissance Technologies LLC bought a new position in shares of Cognition Therapeutics in the 4th quarter worth approximately $74,000. Finally, Millennium Management LLC bought a new position in shares of Cognition Therapeutics during the 4th quarter valued at approximately $357,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Cognition Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, April 4th. LADENBURG THALM/SH SH initiated coverage on Cognition Therapeutics in a research report on Friday, April 22nd. They set a “buy” rating and a $10.00 price objective for the company. Finally, B. Riley reduced their price objective on Cognition Therapeutics from $27.00 to $20.00 in a research report on Monday, January 24th.

About Cognition Therapeutics (Get Rating)

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, a sigma-2 receptor antagonist, which is in Phase II clinical trial for the treatment of mild-to-moderate Alzheimer's disease, as well as has completed Phase I clinical trial to treat early-stage Alzheimer's disease; in Phase II clinical trial for the treatment of dementia with Lewy bodies (DLB); and in preclinical trial to treat dry age-related macular degeneration (AMD).

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