Alpha Cognition (NASDAQ:ACOG) Director Acquires $96,200.00 in Stock

Alpha Cognition Inc. (NASDAQ:ACOG) Director Robert James Wills bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average cost of $9.62 per share, for a total transaction of $96,200.00. Following the completion of the transaction, the director owned 32,241 shares of the company’s stock, valued at $310,158.42. This represents a 44.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Alpha Cognition Stock Down 3.5%

Shares of ACOG opened at $9.41 on Thursday. The stock’s 50-day moving average price is $8.26 and its 200 day moving average price is $6.76. The firm has a market capitalization of $204.95 million, a price-to-earnings ratio of -8.55 and a beta of 2.31. Alpha Cognition Inc. has a 12-month low of $4.50 and a 12-month high of $10.14.

Alpha Cognition (NASDAQ:ACOG) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.38 million. Equities research analysts expect that Alpha Cognition Inc. will post -1.38 EPS for the current year.

Hedge Funds Weigh In On Alpha Cognition

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

Analyst Upgrades and Downgrades

ACOG has been the topic of a number of recent research reports. Raymond James Financial started 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 on the stock. Wall Street Zen upgraded shares of Alpha Cognition from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Craig Hallum reissued a “buy” rating and issued a $17.00 price target on shares of Alpha Cognition in a research report on Friday, August 14th. HC Wainwright raised their price target on shares of Alpha Cognition from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Finally, Maxim Group began coverage on Alpha Cognition in a report on Friday, May 29th. They set a “buy” rating and a $12.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.00.

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.