Cortexyme (NASDAQ:CRTX) Shares Gap Up to $74.39

Shares of Cortexyme, Inc. (NASDAQ:CRTX) gapped up prior to trading on Thursday . The stock had previously closed at $74.39, but opened at $78.33. Cortexyme shares last traded at $78.01, with a volume of 660 shares changing hands.

A number of brokerages have weighed in on CRTX. Canaccord Genuity raised their target price on Cortexyme from $75.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 16th. Zacks Investment Research raised Cortexyme from a “sell” rating to a “hold” rating in a report on Monday. HC Wainwright reiterated a “buy” rating and issued a $200.00 price target (up from $76.00) on shares of Cortexyme in a research note on Thursday, August 26th. Finally, Needham & Company LLC began coverage on Cortexyme in a research note on Wednesday, October 6th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $101.00.

The firm has a market capitalization of $2.24 billion, a P/E ratio of -25.30 and a beta of 0.92. The company has a 50-day moving average of $91.71 and a 200-day moving average of $61.85.

Cortexyme (NASDAQ:CRTX) last announced its earnings results on Monday, August 9th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.79) by $0.05. On average, equities research analysts predict that Cortexyme, Inc. will post -2.95 EPS for the current fiscal year.

In other news, insider Michael J. Detke sold 10,000 shares of Cortexyme stock in a transaction dated Tuesday, August 10th. The stock was sold at an average price of $100.00, for a total value of $1,000,000.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $1,000,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Margaret Mcloughlin sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 8th. The shares were sold at an average price of $88.93, for a total value of $88,930.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,963 shares of company stock valued at $4,247,246. Corporate insiders own 20.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. 17 Capital Partners LLC acquired a new position in Cortexyme during the 3rd quarter valued at about $337,000. Virtu Financial LLC purchased a new position in shares of Cortexyme in the 2nd quarter worth approximately $286,000. Parametric Portfolio Associates LLC boosted its stake 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 worth $384,000 after buying an additional 262 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Cortexyme in the 2nd quarter worth approximately $2,048,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Cortexyme in the 2nd quarter worth approximately $2,953,000. Institutional investors and hedge funds own 61.84% of the company’s stock.

Cortexyme Company Profile (NASDAQ:CRTX)

Cortexyme, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapeutics. Its pipeline comprises COR388, COR588, COR788, COR822, and Coronavirus 3CL protease inhibitor. The company was founded by Casey Crawford Lynch, Stephen Dominy, and Kristen Gafric on June 20, 2012 and is headquartered in South San Francisco, CA.

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