Alpha Cognition (NASDAQ:ACOG) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Alpha Cognition Inc. (NASDAQ:ACOG)’s share price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $8.78 and traded as low as $8.50. Alpha Cognition shares last traded at $8.73, with a volume of 107,835 shares changing hands.

Analyst Ratings Changes

ACOG has been the topic of several research analyst reports. Craig Hallum reiterated a “buy” rating and set a $17.00 price target on shares of Alpha Cognition in a research note on Friday, August 14th. Wall Street Zen raised shares of Alpha Cognition from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. B. Riley Financial initiated coverage on shares of Alpha Cognition in a research note on Thursday, August 20th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, HC Wainwright raised their price objective on Alpha Cognition from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Five research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $18.00.

Alpha Cognition Trading Down 1.9%

The business has a 50 day moving average of $8.78 and a 200-day moving average of $7.24. The stock has a market cap of $190.14 million, a PE ratio of -7.94 and a beta of 2.32.

Alpha Cognition (NASDAQ:ACOG) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.01). Alpha Cognition had a negative return on equity of 54.60% and a negative net margin of 153.61%. The firm had revenue of $6.00 million for the quarter, compared to analyst estimates of $4.38 million. Research analysts expect that Alpha Cognition Inc. will post -1.38 EPS for the current fiscal year.

Insider Activity

In other Alpha Cognition news, Director Robert Wills bought 10,000 shares of the stock in a transaction dated Friday, August 21st. The shares were acquired at an average cost of $9.62 per share, for a total transaction of $96,200.00. Following the completion of the transaction, the director owned 32,241 shares in the company, valued at approximately $310,158.42. The trade was a 44.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Alpha Cognition

Several institutional investors and hedge funds have recently bought and sold shares of ACOG. Opaleye Management Inc. boosted its stake in Alpha Cognition by 13.0% during the 2nd quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company’s stock worth $20,905,000 after purchasing an additional 333,517 shares during the period. AWM Investment Company Inc. acquired a new position in Alpha Cognition in the second quarter valued at $12,073,000. Aristides Capital LLC increased its stake in Alpha Cognition by 1.4% in the first quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock valued at $1,200,000 after purchasing an additional 3,052 shares during the period. ACT Capital Partners L.P. purchased a new stake in shares of Alpha Cognition in the third quarter valued at about $464,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Alpha Cognition in the third quarter valued at about $210,000.

About Alpha Cognition

Alpha Cognition Inc. is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative diseases and cognitive disorders. The company’s work is centered on therapies intended to address the medical needs of patients with Alzheimer’s disease and other conditions affecting cognition. Its lead commercial product is ZUNOVO (galantamine hydrobromide) extended-release capsules, an orally administered treatment approved by the U.S. Food and Drug Administration for mild-to-moderate dementia of the Alzheimer’s type.