Cortexyme (NASDAQ:CRTX) Trading Up 14.5%

Cortexyme, Inc. (NASDAQ:CRTX)’s stock price was up 14.5% on Wednesday . The stock traded as high as $60.65 and last traded at $58.84, approximately 215,595 shares traded hands during trading. A decline of 5% from the average daily volume of 227,079 shares. The stock had previously closed at $51.41.

Separately, Zacks Investment Research cut shares of Cortexyme from a “buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $40.00.

The company has a 50-day moving average of $46.36 and a 200-day moving average of $32.44.

Cortexyme (NASDAQ:CRTX) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.37) EPS for the quarter, meeting analysts’ consensus estimates of ($0.37). As a group, research analysts forecast that Cortexyme, Inc. will post -1.51 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new position in Cortexyme in the 2nd quarter valued at about $78,000. Wells Fargo & Company MN acquired a new stake in shares of Cortexyme during the 2nd quarter worth about $191,000. Bank of New York Mellon Corp acquired a new stake in shares of Cortexyme during the 2nd quarter worth about $349,000. Millennium Management LLC grew its holdings in shares of Cortexyme by 70.0% during the third quarter. Millennium Management LLC now owns 21,239 shares of the biopharmaceutical company’s stock worth $529,000 after buying an additional 8,747 shares in the last quarter. Finally, Northern Trust Corp purchased a new stake in shares of Cortexyme during the second quarter worth about $991,000. Hedge funds and other institutional investors own 20.62% of the company’s stock.

Cortexyme Company Profile (NASDAQ:CRTX)

Cortexyme, Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutics for Alzheimer's disease and other degenerative disorders. Its lead drug candidate is COR388, an orally-administered brain-penetrating small molecule gingipain inhibitor, which has completed Phase 1a and Phase 1b clinical trials for use in patients with mild to moderate Alzheimer's disease.

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