Opaleye Management Inc. Buys 333,517 Shares of Alpha Cognition Inc. $ACOG

Opaleye Management Inc. boosted its stake in Alpha Cognition Inc. (NASDAQ:ACOG) by 13.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,895,467 shares of the company’s stock after buying an additional 333,517 shares during the period. Alpha Cognition makes up 1.9% of Opaleye Management Inc.’s portfolio, making the stock its 14th largest holding. Opaleye Management Inc. owned 0.13% of Alpha Cognition worth $20,905,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ACOG. Geode Capital Management LLC acquired a new stake in Alpha Cognition during the second quarter worth approximately $112,000. Massar Capital Management LP bought a new position in shares of Alpha Cognition during the second quarter worth approximately $116,000. Two Sigma Investments LP acquired a new stake in Alpha Cognition during the 3rd quarter worth approximately $148,000. Connective Capital Management LLC bought a new stake in Alpha Cognition in the 3rd quarter valued at $312,000. Finally, ACT Capital Management LLC acquired a new position in shares of Alpha Cognition in the fourth quarter valued at about $335,000.

Analyst Ratings Changes

A number of research firms have issued reports on ACOG. Maxim Group assumed coverage on shares of Alpha Cognition in a report on Friday, May 29th. They issued a “buy” rating and a $12.00 price objective for the company. Wall Street Zen upgraded Alpha Cognition from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Raymond James Financial began coverage on Alpha Cognition in a research note on Friday, July 10th. They set an “outperform” rating and a $20.00 price objective on the stock. HC Wainwright increased their target price on Alpha Cognition from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Finally, B. Riley Financial started coverage on Alpha Cognition in a research note on Thursday, August 20th. They issued a “buy” rating and a $21.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $18.00.

Alpha Cognition Stock Down 2.5%

NASDAQ ACOG opened at $8.90 on Friday. The company has a market cap of $193.84 million, a price-to-earnings ratio of -8.09 and a beta of 2.32. Alpha Cognition Inc. has a twelve month low of $4.50 and a twelve month high of $10.14. The business’s fifty day moving average is $8.78 and its 200 day moving average is $7.07.

Alpha Cognition (NASDAQ:ACOG) last posted its 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 net margin of 153.61% and a negative return on equity of 54.60%. The firm had revenue of $6.00 million during the quarter, compared to the consensus estimate of $4.38 million. On average, research analysts anticipate that Alpha Cognition Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Activity at Alpha Cognition

In other news, Director Robert Wills acquired 10,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was purchased at an average price of $9.62 per share, for a total transaction of $96,200.00. Following the completion of the acquisition, the director directly owned 32,241 shares in the company, valued at $310,158.42. The trade was a 44.96% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by corporate insiders.

Alpha Cognition 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.