Alpha Cognition (NASDAQ:ACOG) Shares Down 1.2% – Time to Sell?

Shares of Alpha Cognition Inc. (NASDAQ:ACOG) dropped 1.2% during mid-day trading on Thursday . The company traded as low as $6.37 and last traded at $6.50. 51,631 shares traded hands 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

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

Alpha Cognition Price Performance

The company has a market capitalization of $141.50 million, a price-to-earnings ratio of -4.81 and a beta of 2.36. The firm’s 50-day simple moving average is $6.23 and its two-hundred day simple moving average is $5.94.

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

Institutional Trading of Alpha Cognition

Institutional investors have recently bought and sold shares of the company. Green Alpha Advisors LLC acquired a new stake in Alpha Cognition in the fourth quarter valued at $72,000. Geode Capital Management LLC acquired a new position in shares of Alpha Cognition during the 2nd quarter worth $112,000. Massar Capital Management LP acquired a new position in shares of Alpha Cognition during the 2nd quarter worth $116,000. Two Sigma Investments LP acquired a new position in shares of Alpha Cognition during the 3rd quarter worth $148,000. Finally, Connective Capital Management LLC purchased a new stake in shares of Alpha Cognition in the 3rd quarter worth about $312,000.

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.