Alpha Cognition (NASDAQ:ACOG) Director Purchases 10,000 Shares

Key Points

• Director Robert James Wills purchased 10,000 Alpha Cognition shares at an average price of $9.62, investing $96,200 and increasing his direct stake by nearly 45% to 32,241 shares.
• Alpha Cognition reported quarterly revenue of $6.0 million, above expectations, but its $0.40 loss per share slightly missed estimates. Analysts expect a full-year loss of $1.38 per share.
• Analysts maintain a generally positive outlook, with five Buy ratings and a consensus price target of $18.00, compared with the stock’s recent price of $9.70.

Alpha Cognition Inc. (NASDAQ:ACOG - Get Free Report) Director Robert James Wills acquired 10,000 shares of the company's stock in a transaction dated Friday, August 21st. The stock was purchased at an average cost of $9.62 per share, for a total transaction of $96,200.00. Following the purchase, the director directly owned 32,241 shares in the company, valued at approximately $310,158.42. This represents a 44.96% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Alpha Cognition Stock Performance

NASDAQ ACOG traded down $0.06 on Monday, reaching $9.70. The company's stock had a trading volume of 108,538 shares, compared to its average volume of 71,501. Alpha Cognition Inc. has a twelve month low of $4.50 and a twelve month high of $10.10. The stock has a market cap of $211.16 million, a PE ratio of -8.91 and a beta of 2.30. The firm's 50 day moving average is $8.05 and its two-hundred day moving average is $6.66.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.01). The business had revenue of $6.00 million for the quarter, compared to the consensus estimate of $4.38 million. Alpha Cognition had a negative return on equity of 54.60% and a negative net margin of 153.61%. Equities research analysts anticipate that Alpha Cognition Inc. will post -1.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ACOG. Raymond James Financial started coverage on Alpha Cognition in a research note on Friday, July 10th. They issued an "outperform" rating and a $20.00 price target on the stock. HC Wainwright raised their target price on shares of Alpha Cognition from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, August 17th. Wall Street Zen raised shares of Alpha Cognition from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Maxim Group initiated coverage on shares of Alpha Cognition in a research report on Friday, May 29th. They issued a "buy" rating and a $12.00 price target for the company. Finally, Craig Hallum reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Alpha Cognition in a research note on Friday, August 14th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $18.00.

Institutional Trading of Alpha Cognition

A number of hedge funds have recently made changes to their positions in ACOG. Geode Capital Management LLC purchased a new position in Alpha Cognition during the second quarter valued at approximately $112,000. Massar Capital Management LP purchased a new position in shares of Alpha Cognition during the 2nd quarter valued at $116,000. Two Sigma Investments LP acquired a new position in shares of Alpha Cognition in the third quarter worth $148,000. Connective Capital Management LLC acquired a new position in shares of Alpha Cognition in the third quarter worth $312,000. Finally, ACT Capital Management LLC purchased a new stake in shares of Alpha Cognition during the fourth quarter worth $335,000.

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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