B. Riley Reiterates “Buy” Rating for Cognition Therapeutics (NASDAQ:CGTX)

Cognition Therapeutics (NASDAQ:CGTX)‘s stock had its “buy” rating reiterated by research analysts at B. Riley in a research note issued on Thursday, Benzinga reports. They currently have a $5.00 target price on the stock. B. Riley’s target price points to a potential upside of 177.78% from the company’s previous close.

Separately, Oppenheimer reissued an “outperform” rating and set a $9.00 price target on shares of Cognition Therapeutics in a research report on Wednesday.

Cognition Therapeutics Price Performance

CGTX traded down $0.02 during trading on Thursday, reaching $1.80. 95,372 shares of the company’s stock were exchanged, compared to its average volume of 213,365. The stock has a market capitalization of $70.20 million, a P/E ratio of -2.08 and a beta of 1.67. The company’s fifty day simple moving average is $2.08 and its 200-day simple moving average is $1.65. Cognition Therapeutics has a 1 year low of $0.90 and a 1 year high of $3.49.

Hedge Funds Weigh In On Cognition Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp acquired a new stake in shares of Cognition Therapeutics during the third quarter worth $28,000. Bank of New York Mellon Corp acquired a new position in shares of Cognition Therapeutics during the 2nd quarter worth $33,000. Baird Financial Group Inc. acquired a new position in shares of Cognition Therapeutics during the 1st quarter worth $56,000. Two Sigma Investments LP purchased a new stake in Cognition Therapeutics during the 3rd quarter worth about $46,000. Finally, Sigma Planning Corp purchased a new stake in Cognition Therapeutics during the 4th quarter worth about $53,000. 43.35% of the stock is owned by institutional investors and hedge funds.

About Cognition Therapeutics

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 for the treatment of Alzheimer's disease.