Opaleye Management Inc. Has $20.91 Million Stock Position in Alpha Cognition Inc. $ACOG

Opaleye Management Inc. raised its stake in Alpha Cognition Inc. (NASDAQ:ACOG) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,895,467 shares of the company’s stock after acquiring an additional 333,517 shares during the period. Alpha Cognition comprises about 1.9% of Opaleye Management Inc.’s investment portfolio, making the stock its 14th largest position. Opaleye Management Inc. owned 13.30% of Alpha Cognition worth $20,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of ACOG. AWM Investment Company Inc. acquired a new stake in Alpha Cognition during the 2nd quarter valued at $12,073,000. Alyeska Investment Group L.P. bought a new stake in Alpha Cognition during the 4th quarter worth about $2,372,000. Cable Car Capital LP lifted its holdings in Alpha Cognition by 68.8% in the second quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock valued at $8,108,000 after buying an additional 354,278 shares during the period. Sphera Funds Management LTD. boosted its position in shares of Alpha Cognition by 67.6% in the 4th quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company’s stock worth $3,690,000 after purchasing an additional 228,864 shares during the last quarter. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of Alpha Cognition during the 4th quarter worth about $1,062,000.

Alpha Cognition Trading Down 2.5%

NASDAQ:ACOG opened at $8.90 on Friday. The stock has a market capitalization of $193.84 million, a PE ratio of -8.09 and a beta of 2.32. Alpha Cognition Inc. has a 1-year low of $4.50 and a 1-year high of $10.14. The firm has a fifty day simple moving average of $8.78 and a 200 day simple moving average of $7.07.

Alpha Cognition (NASDAQ:ACOG) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.40) earnings per share (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 firm had revenue of $6.00 million for the quarter, compared to the consensus estimate of $4.38 million. On average, equities analysts predict that Alpha Cognition Inc. will post -1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Alpha Cognition

In other Alpha Cognition news, Director Robert Wills purchased 10,000 shares of Alpha Cognition stock in a transaction that occurred on Friday, August 21st. The stock was acquired 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 owned 32,241 shares of the company’s stock, valued at approximately $310,158.42. This trade represents a 44.96% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.60% of the company’s stock.

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.