Alpha Cognition Inc. (NASDAQ:ACOG) Short Interest Up 66.0% in July

Alpha Cognition Inc. (NASDAQ:ACOG - Get Free Report) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 215,576 shares, a growth of 66.0% from the June 30th total of 129,902 shares. Currently, 1.1% of the company's shares are sold short. Based on an average trading volume of 61,183 shares, the days-to-cover ratio is currently 3.5 days.

Hedge Funds Weigh In On Alpha Cognition

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. acquired a new stake in Alpha Cognition in the fourth quarter valued at approximately $2,372,000. Boothbay Fund Management LLC lifted its position in shares of Alpha Cognition by 10.8% during the third quarter. Boothbay Fund Management LLC now owns 291,868 shares of the company's stock worth $1,900,000 after purchasing an additional 28,392 shares in the last quarter. Aristides Capital LLC boosted its stake in shares of Alpha Cognition by 30.2% in the fourth quarter. Aristides Capital LLC now owns 215,458 shares of the company's stock valued at $1,400,000 after purchasing an additional 50,000 shares during the period. Manatuck Hill Partners LLC boosted its stake in shares of Alpha Cognition by 74.6% in the second quarter. Manatuck Hill Partners LLC now owns 117,000 shares of the company's stock valued at $1,092,000 after purchasing an additional 50,000 shares during the period. Finally, Cantor Fitzgerald L. P. purchased a new position in shares of Alpha Cognition in the fourth quarter valued at $1,062,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen lowered Alpha Cognition from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Maxim Group began coverage on shares of Alpha Cognition in a research report on Friday, May 29th. They set a "buy" rating and a $12.00 target price for the company. Raymond James Financial began coverage on shares of Alpha Cognition in a report on Friday, July 10th. They issued an "outperform" rating and a $20.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of Alpha Cognition in a research report on Friday, May 22nd. Finally, Craig Hallum assumed coverage on shares of Alpha Cognition in a research note on Friday, April 17th. They set a "buy" rating and a $14.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $16.00.

Alpha Cognition Price Performance

NASDAQ:ACOG opened at $8.73 on Friday. The business's 50-day moving average is $7.13 and its two-hundred day moving average is $6.30. Alpha Cognition has a 12 month low of $4.50 and a 12 month high of $10.15. The firm has a market capitalization of $190.05 million, a PE ratio of -6.47 and a beta of 2.32.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.37) EPS for the quarter, topping analysts' consensus estimates of ($0.41) by $0.04. Alpha Cognition had a negative return on equity of 58.35% and a negative net margin of 232.23%.The company had revenue of $3.53 million for the quarter, compared to analysts' expectations of $3.42 million. Equities analysts anticipate that Alpha Cognition will post -1.37 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.