Alpha Cognition (NASDAQ:ACOG) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Shares of Alpha Cognition Inc. (NASDAQ:ACOG) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $8.94 and traded as high as $9.20. Alpha Cognition shares last traded at $9.17, with a volume of 96,631 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ACOG shares. 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 price objective on the stock. Wall Street Zen upgraded shares of Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. HC Wainwright raised their price target on shares of Alpha Cognition from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Raymond James Financial assumed coverage on shares of Alpha Cognition in a research report on Friday, July 10th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Craig Hallum reiterated a “buy” rating and set a $17.00 price target on shares of Alpha Cognition in a research note on Friday, August 14th. Five equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $18.00.

Alpha Cognition Price Performance

The business has a 50-day moving average of $8.93 and a 200 day moving average of $7.15.

Alpha Cognition (NASDAQ:ACOG) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.40) earnings per share (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 for the quarter, compared to analysts’ expectations of $4.38 million. As a group, equities analysts anticipate that Alpha Cognition Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Alpha Cognition

In other news, Director Robert Wills purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average cost of $9.62 per share, with a total value of $96,200.00. Following the completion of the transaction, the director directly owned 32,241 shares of the company’s stock, valued at approximately $310,158.42. This trade represents a 44.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Alpha Cognition

A number of institutional investors have recently added to or reduced their stakes in the company. Opaleye Management Inc. grew its holdings in shares of Alpha Cognition by 13.0% in the second quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company’s stock valued at $20,905,000 after acquiring an additional 333,517 shares in the last quarter. AWM Investment Company Inc. bought a new position in Alpha Cognition in the 2nd quarter valued at $12,073,000. Finally, Aristides Capital LLC increased its position in shares of Alpha Cognition by 1.4% during the 1st quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock valued at $1,200,000 after purchasing an additional 3,052 shares during the last quarter.

About Alpha Cognition

Alpha Cognition Inc is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative diseases and cognitive disorders. The company’s work is centered on therapies intended to address the medical needs of patients with Alzheimer’s disease and other conditions affecting cognition.

Its lead commercial product is ZUNOVO (galantamine hydrobromide) extended-release capsules, an orally administered treatment approved by the U.S. Food and Drug Administration for mild-to-moderate dementia of the Alzheimer’s type.