Alpha Cognition Inc. (NASDAQ:ACOG) Sees Significant Decrease in Short Interest

Key Points

• Alpha Cognition Inc. (NASDAQ: ACOG) experienced a significant 37.8% decrease in short interest in September, with a total of 50,600 shares shorted as of September 15th.
• Analysts have upgraded Alpha Cognition from a "sell" to a "hold" rating, with a consensus price target set at $20.00.
• Insider transactions include a director selling 27,778 shares while another director bought 15,000 shares, reflecting notable shifts in ownership stake within the company.

Alpha Cognition Inc. (NASDAQ:ACOG - Get Free Report) saw a large drop in short interest in September. As of September 15th, there was short interest totaling 50,600 shares, a drop of 37.8% from the August 31st total of 81,400 shares. Based on an average daily volume of 66,400 shares, the short-interest ratio is presently 0.8 days. Currently, 0.4% of the shares of the stock are short sold. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 66,400 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Alpha Cognition from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Alpha Cognition has a consensus rating of "Buy" and a consensus price target of $20.00.

Insider Activity at Alpha Cognition

In related news, Director Phillip Joseph Mertz sold 27,778 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.00, for a total transaction of $250,002.00. Following the completion of the transaction, the director directly owned 22,462 shares in the company, valued at $202,158. This represents a 55.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert James Wills acquired 15,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of $8.49 per share, with a total value of $127,350.00. Following the purchase, the director owned 15,000 shares in the company, valued at $127,350. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 14.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Villere ST Denis J & Co. LLC grew its holdings 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 worth $363,000 after purchasing an additional 47,928 shares during the period. AWM Investment Company Inc. bought a new position in shares of Alpha Cognition during the 1st quarter worth about $5,785,000. Salem Investment Counselors Inc. bought a new position in shares of Alpha Cognition during the 1st quarter worth about $230,000. Cable Car Capital LP grew its stake in shares of Alpha Cognition by 68.8% in the 2nd 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. Finally, Manatuck Hill Partners LLC grew its stake in shares of 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 buying an additional 50,000 shares during the period.

Alpha Cognition Price Performance

Shares of Alpha Cognition stock opened at $7.48 on Friday. The stock's 50-day moving average is $8.55 and its 200 day moving average is $8.00. Alpha Cognition has a one year low of $3.75 and a one year high of $11.54. The firm has a market cap of $156.33 million, a price-to-earnings ratio of -4.68 and a beta of 2.63.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.19). The business had revenue of $1.66 million during the quarter, compared to analyst estimates of $2.32 million.

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.

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