Cortexyme (NASDAQ:CRTX – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, Zacks.com reports.
According to Zacks, “Cortexyme Inc. is a clinical-stage biopharmaceutical company. It is focused on providing disease-modifying therapeutics to treat Alzheimer’s and other degenerative diseases. The company’s drug candidate consists of COR388 which is in clinical stage. Cortexyme Inc. is based in San Francisco, United States. “
Several other analysts have also recently weighed in on CRTX. JMP Securities cut Cortexyme from an “outperform” rating to a “market perform” rating in a report on Thursday, January 27th. Canaccord Genuity Group cut Cortexyme from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $75.00 to $12.00 in a report on Friday, January 28th. HC Wainwright dropped their price objective on Cortexyme from $30.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, March 9th. Finally, Canaccord Genuity Group cut Cortexyme from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $75.00 to $12.00 in a report on Friday, January 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Cortexyme presently has an average rating of “Hold” and a consensus target price of $22.54.
Cortexyme stock traded down $0.37 on Monday, hitting $4.29. The company’s stock had a trading volume of 475,261 shares, compared to its average volume of 773,741. The firm has a market cap of $129.33 million, a P/E ratio of -1.46 and a beta of 0.98. The company has a fifty day moving average price of $5.24 and a 200-day moving average price of $17.34. Cortexyme has a one year low of $3.79 and a one year high of $121.98.
Cortexyme (NASDAQ:CRTX – Get Rating) last issued its earnings results on Tuesday, March 1st. The biopharmaceutical company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.13). On average, analysts predict that Cortexyme will post -2.44 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC boosted its holdings in shares of Cortexyme by 3.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,236 shares of the biopharmaceutical company’s stock valued at $384,000 after buying an additional 262 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Cortexyme by 4.9% in the 2nd quarter. Wells Fargo & Company MN now owns 12,398 shares of the biopharmaceutical company’s stock valued at $657,000 after buying an additional 583 shares during the last quarter. Credit Suisse AG boosted its holdings in shares of Cortexyme by 7.4% in the 3rd quarter. Credit Suisse AG now owns 10,324 shares of the biopharmaceutical company’s stock valued at $946,000 after buying an additional 715 shares during the last quarter. Point72 Hong Kong Ltd boosted its holdings in shares of Cortexyme by 326.5% in the 3rd quarter. Point72 Hong Kong Ltd now owns 998 shares of the biopharmaceutical company’s stock valued at $91,000 after buying an additional 764 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Cortexyme in the 3rd quarter valued at approximately $79,000. 59.22% of the stock is owned by hedge funds and other institutional investors.
About Cortexyme (Get Rating)
Cortexyme, Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutics for Alzheimer’s and other degenerative diseases. Its lead drug candidate is atuzaginstat (COR388), an orally administered brain-penetrating small molecule gingipain inhibitor, which is in Phase II/III clinical trial for use in patients with mild to moderate Alzheimer’s disease, as well as for the treatment of oral squamous cell carcinoma, periodontitis, and coronavirus infection.
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