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 during the month of 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. Currently, 1.6% of the company’s shares are short sold. Based on an average daily volume of 115,854 shares, the short-interest ratio is currently 2.8 days.

Alpha Cognition Stock Down 2.3%

Shares of ACOG stock opened at $8.45 on Friday. The firm has a market cap of $184.02 million, a price-to-earnings ratio of -7.68 and a beta of 2.32. Alpha Cognition has a 52-week low of $4.50 and a 52-week high of $10.14. The company’s 50 day moving average is $9.01 and its 200 day moving average is $7.61.

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 company had revenue of $6.00 million during the quarter, compared to the consensus estimate of $4.38 million. Analysts anticipate that Alpha Cognition will post -1.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ACOG. Craig Hallum reissued a “buy” rating and issued a $17.00 price objective on shares of Alpha Cognition in a research report on Friday, August 14th. 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 research report on Monday, August 17th. Wall Street Zen raised shares of Alpha Cognition from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Raymond James Financial assumed coverage on shares of Alpha Cognition in a research note on Friday, July 10th. They set an “outperform” rating and a $20.00 price target for the company. Finally, B. Riley Financial assumed coverage on Alpha Cognition in a report on Thursday, August 20th. They issued a “buy” rating and a $21.00 price target for the company. Five investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Alpha Cognition presently has a consensus rating of “Buy” and a consensus price target of $18.00.

Insider Buying and Selling

In related news, Director Robert Wills purchased 10,000 shares of Alpha Cognition stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average price of $9.62 per share, with a total value of $96,200.00. Following the purchase, the director directly owned 32,241 shares of the company’s stock, valued at approximately $310,158.42. This represents a 44.96% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alpha Cognition

A number of large investors have recently made changes to their positions in the business. Aristides Capital LLC lifted its holdings in shares of Alpha Cognition by 1.4% during the 1st 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 last quarter. ACT Capital Management LLC acquired a new position in shares of Alpha Cognition during the fourth quarter valued at about $335,000. Opaleye Management Inc. raised its position in shares of Alpha Cognition by 13.0% in the 2nd quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company’s stock valued at $20,905,000 after purchasing an additional 333,517 shares during the last quarter. Finally, AWM Investment Company Inc. purchased a new stake in Alpha Cognition during the 2nd quarter worth approximately $12,073,000.

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.