Alpha Cognition (NASDAQ:ACOG) Rating Lowered to Sell at Wall Street Zen

Key Points

• Alpha Cognition has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling a shift in analysts' outlook on the stock.
• Despite the downgrade, HC Wainwright maintains a "buy" rating with a target price of $20.00 for the company's shares.
• In the latest earnings report, Alpha Cognition missed earnings expectations, reporting a net loss of ($0.65) per share against estimates of ($0.46).

Wall Street Zen downgraded shares of Alpha Cognition (NASDAQ:ACOG - Free Report) from a hold rating to a sell rating in a research report report published on Saturday.

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Alpha Cognition in a research report on Friday, May 16th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $20.00.

Alpha Cognition Stock Down 1.2%

Shares of Alpha Cognition stock traded down $0.10 during midday trading on Friday, hitting $7.99. The company's stock had a trading volume of 37,694 shares, compared to its average volume of 69,640. The firm has a market capitalization of $129.12 million, a P/E ratio of -4.99 and a beta of 2.72. The stock has a 50-day simple moving average of $9.58 and a 200-day simple moving average of $7.45. Alpha Cognition has a 1-year low of $3.75 and a 1-year high of $11.54.

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

Insider Transactions at Alpha Cognition

In related news, Director Phillip Joseph Mertz sold 27,778 shares of Alpha Cognition stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.00, for a total transaction of $250,002.00. Following the completion of the sale, the director owned 22,462 shares of the company's stock, valued at approximately $202,158. This trade represents a 55.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.00% of the company's stock.

Institutional Trading of Alpha Cognition

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new stake in Alpha Cognition during the second quarter valued at $112,000. Massar Capital Management LP acquired a new stake in Alpha Cognition during the second quarter valued at $116,000. Salem Investment Counselors Inc. acquired a new stake in Alpha Cognition during the first quarter valued at $230,000. Villere ST Denis J & Co. LLC boosted its position in Alpha Cognition by 201.0% during the first quarter. Villere ST Denis J & Co. LLC now owns 71,778 shares of the company's stock valued at $363,000 after purchasing an additional 47,928 shares during the last quarter. Finally, Manatuck Hill Partners LLC acquired a new stake in Alpha Cognition during the fourth quarter valued at $395,000.

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.