Insider Selling: Cortexyme, Inc. (NASDAQ:CRTX) Insider Sells 10,800 Shares of Stock

Cortexyme, Inc. (NASDAQ:CRTXGet Rating) insider Caryn Gordon Mcdowell sold 10,800 shares of the firm’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $2.86, for a total transaction of $30,888.00. Following the completion of the sale, the insider now owns 122,500 shares of the company’s stock, valued at $350,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of CRTX traded down $0.05 on Wednesday, hitting $3.23. 511,940 shares of the stock traded hands, compared to its average volume of 676,119. The company has a market capitalization of $97.39 million, a PE ratio of -1.09 and a beta of 1.38. The business has a 50 day simple moving average of $3.95 and a 200 day simple moving average of $7.05. Cortexyme, Inc. has a one year low of $2.39 and a one year high of $40.66.

Cortexyme (NASDAQ:CRTXGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.08). On average, equities research analysts forecast that Cortexyme, Inc. will post -2.86 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in shares of Cortexyme by 83.1% during the first quarter. BNP Paribas Arbitrage SA now owns 328,836 shares of the biopharmaceutical company’s stock valued at $2,035,000 after acquiring an additional 149,223 shares in the last quarter. Quantbot Technologies LP grew its position in Cortexyme by 10,700.0% in the 1st quarter. Quantbot Technologies LP now owns 10,800 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 10,700 shares during the period. PDT Partners LLC grew its position in Cortexyme by 342.1% in the 1st quarter. PDT Partners LLC now owns 363,875 shares of the biopharmaceutical company’s stock worth $2,252,000 after purchasing an additional 281,560 shares during the period. State Street Corp grew its position in Cortexyme by 5.2% in the 1st quarter. State Street Corp now owns 418,545 shares of the biopharmaceutical company’s stock worth $2,591,000 after purchasing an additional 20,703 shares during the period. Finally, Engineers Gate Manager LP grew its position in Cortexyme by 103.8% in the 1st quarter. Engineers Gate Manager LP now owns 23,100 shares of the biopharmaceutical company’s stock worth $143,000 after purchasing an additional 11,768 shares during the period. 63.18% of the stock is owned by institutional investors.

Several research firms have recently issued reports on CRTX. HC Wainwright lowered their target price on shares of Cortexyme from $30.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, March 9th. Zacks Investment Research lowered shares of Cortexyme from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.21.

Cortexyme Company Profile (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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