Alpha Cognition (NASDAQ:ACOG) Stock Price Down 1.2% – Here’s Why

Alpha Cognition Inc. (NASDAQ:ACOG)’s stock price was down 1.2% on Thursday . The stock traded as low as $6.37 and last traded at $6.50. 51,631 shares were traded during trading, an increase of 53% from the average session volume of 33,820 shares. The stock had previously closed at $6.58.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Alpha Cognition in a report on Friday, May 22nd. Craig Hallum started coverage on shares of Alpha Cognition in a research note on Friday, April 17th. They set a “buy” rating and a $14.00 price objective for the company. Maxim Group began coverage on Alpha Cognition in a research report on Friday, May 29th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Wall Street Zen lowered Alpha Cognition from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $14.67.

Alpha Cognition Stock Down 1.2%

The firm has a market cap of $141.50 million, a price-to-earnings ratio of -4.81 and a beta of 2.36. The business has a 50 day moving average of $6.23 and a 200 day moving average of $5.94.

Alpha Cognition (NASDAQ:ACOG) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.04. The firm had revenue of $3.53 million during the quarter, compared to analysts’ expectations of $3.42 million. Alpha Cognition had a negative return on equity of 58.35% and a negative net margin of 232.23%. Research analysts predict that Alpha Cognition Inc. will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Cognition

Hedge funds and other institutional investors have recently modified their holdings of the company. Opaleye Management Inc. raised its position in shares of Alpha Cognition by 1,698.5% in the fourth quarter. Opaleye Management Inc. now owns 2,070,784 shares of the company’s stock valued at $13,460,000 after buying an additional 1,955,642 shares during the last quarter. AWM Investment Company Inc. grew its stake in Alpha Cognition by 52.6% in the 4th quarter. AWM Investment Company Inc. now owns 1,672,168 shares of the company’s stock worth $10,869,000 after acquiring an additional 576,516 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Alpha Cognition in the 4th quarter worth approximately $2,372,000. Cable Car Capital LP raised its holdings in Alpha Cognition by 68.8% in the 2nd quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock valued at $8,108,000 after acquiring an additional 354,278 shares during the last quarter. Finally, Sphera Funds Management LTD. raised its holdings in Alpha Cognition by 67.6% in the 4th quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company’s stock valued at $3,690,000 after acquiring an additional 228,864 shares during the last quarter.

Alpha Cognition Company Profile

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.