Alpha Cognition Inc. (NASDAQ:ACOG) Sees Significant Growth in Short Interest

Alpha Cognition Inc. (NASDAQ:ACOG) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 81,900 shares, a growth of 61.9% from the September 15th total of 50,600 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 73,600 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 73,600 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.7% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. HC Wainwright dropped their price target on Alpha Cognition from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday. Wall Street Zen downgraded Alpha Cognition from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $18.00.

Insider Buying and Selling at Alpha Cognition

In other Alpha Cognition news, Director Robert James Wills acquired 15,000 shares of the business’s stock in a transaction on Monday, August 18th. The shares were bought at an average price of $8.49 per share, with a total value of $127,350.00. Following the transaction, the director directly owned 15,000 shares of the company’s stock, valued at $127,350. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Phillip Joseph Mertz sold 27,778 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.00, for a total value of $250,002.00. Following the completion of the transaction, the director directly owned 22,462 shares in the company, valued at $202,158. This trade represents a 55.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Alpha Cognition

A number of institutional investors have recently added to or reduced their stakes in ACOG. Villere ST Denis J & Co. LLC boosted its position in Alpha Cognition by 201.0% during the first quarter. Villere ST Denis J & Co. LLC now owns 71,778 shares of the company’s stock valued at $363,000 after purchasing an additional 47,928 shares in the last quarter. AWM Investment Company Inc. bought a new stake in Alpha Cognition during the first quarter valued at about $5,785,000. Geode Capital Management LLC bought a new stake in Alpha Cognition during the second quarter valued at about $112,000. Marshall Wace LLP bought a new stake in Alpha Cognition during the second quarter valued at about $600,000. Finally, Cable Car Capital LP boosted its position in Alpha Cognition by 68.8% during the second quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock valued at $8,108,000 after purchasing an additional 354,278 shares in the last quarter.

Alpha Cognition Trading Up 1.3%

ACOG opened at $6.99 on Friday. Alpha Cognition has a 12-month low of $3.75 and a 12-month high of $11.54. The business’s fifty day simple moving average is $7.95 and its 200-day simple moving average is $8.17. The company has a market capitalization of $146.10 million, a price-to-earnings ratio of -4.37 and a beta of 2.63.

Alpha Cognition (NASDAQ:ACOG) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.19). The firm had revenue of $1.66 million during the quarter, compared to analyst estimates of $2.32 million.

About Alpha Cognition

Alpha Cognition, Inc is a clinical stage biopharmaceutical company that develops treatments for underserved neurodegenerative diseases such as Alzheimer’s Dementia and Amyotrophic Lateral Sclerosis. The company was founded in 2000 and is headquartered in Vancouver, Canada.