Short Interest in Alpha Cognition Inc. (NASDAQ:ACOG) Grows By 61.9%

Alpha Cognition Inc. (NASDAQ:ACOG) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 81,900 shares, a growth of 61.9% from the September 15th total of 50,600 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily volume of 73,600 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 73,600 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.7% of the company’s shares are sold short.

Insider Buying and Selling at Alpha Cognition

In other Alpha Cognition news, Director Phillip Joseph Mertz sold 27,778 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.00, for a total transaction of $250,002.00. Following the transaction, the director directly owned 22,462 shares in the company, valued at $202,158. This trade represents a 55.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert James Wills acquired 15,000 shares of Alpha Cognition stock in a transaction on Monday, August 18th. The shares were purchased at an average price of $8.49 per share, for a total transaction of $127,350.00. Following the completion of the acquisition, the director directly owned 15,000 shares in the company, valued at $127,350. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Alpha Cognition

A number of institutional investors and hedge funds have recently modified their holdings of ACOG. AWM Investment Company Inc. bought a new position in Alpha Cognition during the first quarter valued at approximately $5,785,000. Cable Car Capital LP raised its holdings in shares of Alpha Cognition by 68.8% during the 2nd quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock worth $8,108,000 after acquiring an additional 354,278 shares in the last quarter. Manatuck Hill Partners LLC grew its position in Alpha Cognition by 74.6% in the 2nd quarter. Manatuck Hill Partners LLC now owns 117,000 shares of the company’s stock valued at $1,092,000 after acquiring an additional 50,000 shares during the last quarter. Villere ST Denis J & Co. LLC raised its stake in Alpha Cognition by 201.0% in the first quarter. Villere ST Denis J & Co. LLC now owns 71,778 shares of the company’s stock valued at $363,000 after buying an additional 47,928 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Alpha Cognition in the second quarter valued at approximately $600,000.

Alpha Cognition Stock Up 0.7%

ACOG opened at $6.90 on Thursday. The company’s 50-day moving average price is $7.97 and its 200 day moving average price is $8.15. The firm has a market cap of $144.21 million, a price-to-earnings ratio of -4.31 and a beta of 2.63. Alpha Cognition has a fifty-two week low of $3.75 and a fifty-two week high of $11.54.

Alpha Cognition (NASDAQ:ACOG) last announced its earnings results on Thursday, August 14th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.19). The company had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $2.32 million.

Analyst Ratings Changes

ACOG has been the subject of a number of recent analyst reports. Wall Street Zen cut Alpha Cognition from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. HC Wainwright lowered their target price on Alpha Cognition from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $18.00.

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.