Cognition Therapeutics Inc. [CGTX] stock Initiated by Oppenheimer analyst, price target now $22


Cognition Therapeutics Inc. [NASDAQ: CGTX] traded at a high on 08/04/22, posting a 62.16 gain after which it closed the day’ session at $3.60. The company report on August 4, 2022 that Cognition Therapeutics Presents New Proteomic Data on Effect of CT1812 Treatment on Normalization of Disrupted Alzheimer’s Disease Processes.

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Presented at Alzheimer’s Association International Conference August 4, 2022.

Cognition Therapeutics, Inc. (NASDAQ: CGTX) announced that Mary Hamby, Ph.D., vice president of research, presented results at the at Alzheimer’s Association International Conference (AAIC) of proteomic analysis of clinical biomarker data from the SPARC study of oral once-daily treatment with CT1812 in mild-to-moderate Alzheimer’s disease. The analytic results support the proposed synaptoprotective mechanism of action of CT1812 and role in normalizing cellular processes known to be adversely disrupted in Alzheimer’s disease.

The results of the trading session contributed to over 21287660 shares changing hands. Over the past one week, the price volatility of Cognition Therapeutics Inc. stands at 54.08% while the volatility over the past one month is 23.04%.

The market cap for CGTX stock reached $88.20 million, with 22.43 million shares outstanding and 16.26 million shares in the current float. Compared to the average trading volume of 38.12K shares, CGTX reached a trading volume of 21287660 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Cognition Therapeutics Inc. [CGTX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CGTX shares is $14.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CGTX stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Cognition Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 03, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on November 03, 2021, representing the official price target for Cognition Therapeutics Inc. stock.

The Average True Range (ATR) for Cognition Therapeutics Inc. is set at 0.59 The Price to Book ratio for the last quarter was 1.66, with the Price to Cash per share for the same quarter was set at 2.10.

How has CGTX stock performed recently?

Cognition Therapeutics Inc. [CGTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 78.22. With this latest performance, CGTX shares gained by 46.94% in over the last four-week period, additionally sinking by -16.86% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CGTX stock in for the last two-week period is set at 77.41, with the RSI for the last a single of trading hit 84.96, and the three-weeks RSI is set at 70.84 for Cognition Therapeutics Inc. [CGTX]. The present Moving Average for the last 50 days of trading for this stock 2.15, while it was recorded at 2.38 for the last single week of trading, and 4.71 for the last 200 days.

Cognition Therapeutics Inc. [CGTX]: Deeper insight into the fundamentals

Cognition Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.40 and a Current Ratio set at 7.40.

Insider trade positions for Cognition Therapeutics Inc. [CGTX]

There are presently around $7 million, or 22.50% of CGTX stock, in the hands of institutional investors. The top three institutional holders of CGTX stocks are: PROSIGHT MANAGEMENT, LP with ownership of 240,080, which is approximately -20.498% of the company’s market cap and around 28.07% of the total institutional ownership; KESTRA ADVISORY SERVICES, LLC, holding 238,666 shares of the stock with an approximate value of $0.86 million in CGTX stocks shares; and COMMONWEALTH EQUITY SERVICES, LLC, currently with $0.77 million in CGTX stock with ownership of nearly 1447.595% of the company’s market capitalization.

Positions in Cognition Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 15 institutional holders increased their position in Cognition Therapeutics Inc. [NASDAQ:CGTX] by around 770,679 shares. Additionally, 9 investors decreased positions by around 241,448 shares, while 7 investors held positions by with 916,092 shares. The mentioned changes placed institutional holdings at 1,928,219 shares, according to the latest SEC report filing. CGTX stock had 10 new institutional investments in for a total of 410,749 shares, while 3 institutional investors sold positions of 37,360 shares during the same period.