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

Key Points

• Wall Street Zen downgraded Alpha Cognition (NASDAQ:ACOG) from a "hold" to a "sell," while HC Wainwright still rates the stock "buy" with an $18 price target and MarketBeat shows a consensus price target of $18.00.
• Alpha Cognition reported an earnings miss with Q results of ($0.30) EPS vs. ($0.27) expected and revenue of $2.6M vs. $4.41M expected, alongside a negative ROE (68.21%) and net margin (-202.23%); the stock opened at $5.98 and has a market cap of about $130.2M.
• Several hedge funds materially increased positions in the company, notably Opaleye Management (+1,698% to 2,070,784 shares, ~$13.46M) and sizable additions from AWM, Cable Car Capital, Sphera, and others.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Separately, HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of Alpha Cognition in a report on Friday, December 19th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $18.00.

Alpha Cognition Stock Performance

Alpha Cognition stock opened at $5.98 on Friday. The firm has a market capitalization of $130.18 million, a P/E ratio of -5.16 and a beta of 2.51. Alpha Cognition has a twelve month low of $3.75 and a twelve month high of $11.54. The stock's fifty day simple moving average is $5.56 and its 200-day simple moving average is $6.14.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last released its earnings results on Thursday, March 26th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The company had revenue of $2.60 million for the quarter, compared to analyst estimates of $4.41 million. Alpha Cognition had a negative return on equity of 68.21% and a negative net margin of 202.23%.

Hedge Funds Weigh In On Alpha Cognition

Hedge funds have recently made changes to their positions in the company. Opaleye Management Inc. lifted its holdings in shares of Alpha Cognition by 1,698.5% in the 4th quarter. Opaleye Management Inc. now owns 2,070,784 shares of the company's stock valued at $13,460,000 after purchasing an additional 1,955,642 shares during the last quarter. AWM Investment Company Inc. lifted its stake in Alpha Cognition by 52.6% in the fourth quarter. AWM Investment Company Inc. now owns 1,672,168 shares of the company's stock valued at $10,869,000 after buying an additional 576,516 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Alpha Cognition in the fourth quarter valued at approximately $2,372,000. Cable Car Capital LP grew its position in shares of Alpha Cognition by 68.8% during the second quarter. Cable Car Capital LP now owns 869,002 shares of the company's stock worth $8,108,000 after acquiring an additional 354,278 shares during the last quarter. Finally, Sphera Funds Management LTD. increased its holdings in shares of Alpha Cognition by 67.6% in the 4th quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company's stock valued at $3,690,000 after acquiring an additional 228,864 shares during the period.

Alpha Cognition Company Profile

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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