Alpha Cognition Inc. (NASDAQ:ACOG) Short Interest Up 66.0% in July

Alpha Cognition Inc. (NASDAQ:ACOG) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 215,576 shares, a growth of 66.0% from the June 30th total of 129,902 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average trading volume of 61,183 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analyst Weigh In

ACOG has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Alpha Cognition in a research report on Friday, May 22nd. Wall Street Zen downgraded Alpha Cognition from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Craig Hallum started coverage on Alpha Cognition in a research note on Friday, April 17th. They set a “buy” rating and a $14.00 price objective for the company. Raymond James Financial initiated coverage on Alpha Cognition in a report on Friday, July 10th. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, Maxim Group assumed coverage on Alpha Cognition in a research report on Friday, May 29th. They issued a “buy” rating and a $12.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $16.00.

Institutional Trading of Alpha Cognition

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC bought a new position in Alpha Cognition during the 2nd quarter worth approximately $112,000. Massar Capital Management LP bought a new stake in shares of Alpha Cognition in the 2nd quarter valued at approximately $116,000. Two Sigma Investments LP bought a new stake in shares of Alpha Cognition in the 3rd quarter valued at approximately $148,000. Connective Capital Management LLC acquired a new stake in shares of Alpha Cognition during the 3rd quarter valued at approximately $312,000. Finally, ACT Capital Management LLC acquired a new stake in shares of Alpha Cognition during the 4th quarter valued at approximately $335,000.

Alpha Cognition Price Performance

Shares of ACOG stock opened at $8.73 on Friday. The firm has a fifty day moving average of $7.13 and a two-hundred day moving average of $6.30. The firm has a market cap of $190.05 million, a P/E ratio of -6.47 and a beta of 2.32. Alpha Cognition has a 1-year low of $4.50 and a 1-year high of $10.15.

Alpha Cognition (NASDAQ:ACOG) last issued its 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. Alpha Cognition had a negative net margin of 232.23% and a negative return on equity of 58.35%. The business had revenue of $3.53 million for the quarter, compared to analyst estimates of $3.42 million. On average, sell-side analysts expect that Alpha Cognition will post -1.37 EPS for the current year.

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.