Cortexyme (NASDAQ:CRTX) Stock Passes Above Fifty Day Moving Average of $28.63

Cortexyme, Inc. (NASDAQ:CRTX)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $28.63 and traded as high as $40.00. Cortexyme shares last traded at $39.99, with a volume of 785 shares trading hands.

A number of analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of Cortexyme in a research note on Monday, June 3rd. They set an “underperform” rating and a $14.00 price objective for the company. Canaccord Genuity assumed coverage on shares of Cortexyme in a research note on Monday, June 3rd. They set a “buy” rating and a $42.00 price objective for the company. Bank of America assumed coverage on shares of Cortexyme in a research note on Monday, June 3rd. They set a “neutral” rating and a $28.00 price objective for the company. Finally, JMP Securities assumed coverage on shares of Cortexyme in a research note on Monday, June 3rd. They set a “mkt outperform” rating and a $53.00 price objective for the company.

The stock’s 50 day moving average price is $29.07.

In other news, major shareholder Pfizer Inc acquired 50,000 shares of Cortexyme stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $850,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 12.40% of the stock is currently owned by company insiders.

Cortexyme Company Profile (NASDAQ:CRTX)

Cortexyme, Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutics for Alzheimer's disease and other degenerative disorders. Its lead drug candidate is COR388, an orally-administered brain-penetrating small molecule gingipain inhibitor, which has completed Phase 1a and Phase 1b clinical trials for use in patients with mild to moderate Alzheimer's disease.

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