Alpha Cognition Inc. (NASDAQ:ACOG) Stock Short Interest Report for September

Alpha Cognition Inc. (NASDAQ:ACOG) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 323,405 shares, an increase of 54.6% from the September 15th total of 209,226 shares. Based on an average trading volume of 115,854 shares, the days-to-cover ratio is presently 2.8 days. Approximately 1.6% of the shares of the stock are short sold.

Insiders Place Their Bets

In other Alpha Cognition news, Director Robert Wills purchased 10,000 shares of the business’s stock in a transaction on Friday, August 21st. The stock was bought at an average cost of $9.62 per share, with a total value of $96,200.00. Following the acquisition, the director owned 32,241 shares of the company’s stock, valued at $310,158.42. The trade was a 44.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Alpha Cognition

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACOG. Opaleye Management Inc. boosted its position in shares of Alpha Cognition by 13.0% in the second quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company’s stock worth $20,905,000 after buying an additional 333,517 shares during the period. AWM Investment Company Inc. acquired a new position in Alpha Cognition during the second quarter valued at $12,073,000. Aristides Capital LLC raised its position in Alpha Cognition by 1.4% during the first quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock valued at $1,200,000 after buying an additional 3,052 shares during the period. Finally, ACT Capital Management LLC purchased a new stake in Alpha Cognition in the 4th quarter worth about $335,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Craig Hallum reiterated a “buy” rating and issued a $17.00 target price on shares of Alpha Cognition in a report on Friday, August 14th. B. Riley Financial started coverage on shares of Alpha Cognition in a report on Thursday, August 20th. They set a “buy” rating and a $21.00 target price for the company. HC Wainwright raised their target price on shares of Alpha Cognition from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Wall Street Zen upgraded shares of Alpha Cognition from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Raymond James Financial assumed coverage on Alpha Cognition in a report on Friday, July 10th. They issued an “outperform” rating and a $20.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $18.00.

Alpha Cognition Trading Down 3.1%

Shares of ACOG opened at $8.19 on Friday. The business’s 50-day moving average price is $8.99 and its 200 day moving average price is $7.61. The stock has a market capitalization of $178.38 million, a P/E ratio of -7.45 and a beta of 2.32. Alpha Cognition has a 1-year low of $4.50 and a 1-year high of $10.14.

Alpha Cognition (NASDAQ:ACOG) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). Alpha Cognition had a negative net margin of 153.61% and a negative return on equity of 54.60%. The firm had revenue of $6.00 million for the quarter, compared to analysts’ expectations of $4.38 million. On average, research analysts predict that Alpha Cognition will post -1.38 earnings per share for the current year.

About Alpha Cognition

Alpha Cognition Inc (NASDAQ: ACOG) is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative disorders, including Alzheimer’s disease and related cognitive conditions. The company’s work is centered on addressing unmet needs in the diagnosis, management and treatment of diseases that affect memory and cognitive function.

Its lead commercial product is ZUNOVO (memantine hydrochloride extended-release capsules), a prescription therapy approved by the U.S.