Alpha Cognition (NASDAQ:ACOG) Upgraded at Wall Street Zen

Key Points

• Alpha Cognition (NASDAQ:ACOG) has been upgraded from a "sell" to a "hold" rating by Wall Street Zen.
• HC Wainwright has maintained a "buy" rating for the company, setting a target price of $20.00 for its shares.
• Alpha Cognition reported a miss in earnings results with a loss of ($0.65) EPS, falling short of the consensus estimate of ($0.46).

Alpha Cognition (NASDAQ:ACOG - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

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

Alpha Cognition Price Performance

Shares of ACOG traded up $0.05 during trading hours on Friday, reaching $8.20. 30,888 shares of the company's stock traded hands, compared to its average volume of 87,423. The firm has a market capitalization of $132.51 million, a price-to-earnings ratio of -5.13 and a beta of 2.71. Alpha Cognition has a twelve month low of $3.75 and a twelve month high of $11.54. The business's fifty day simple moving average is $9.39 and its two-hundred day simple moving average is $7.60.

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

Insiders Place Their Bets

In related news, Director Robert James Wills purchased 15,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average price of $8.49 per share, for a total transaction of $127,350.00. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at $127,350. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Phillip Joseph Mertz sold 27,778 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.00, for a total value of $250,002.00. Following the sale, the director owned 22,462 shares of the company's stock, valued at $202,158. The trade was a 55.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 14.00% of the company's stock.

Institutional Investors Weigh In On Alpha Cognition

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC acquired a new stake in Alpha Cognition during the 2nd quarter worth about $112,000. Massar Capital Management LP acquired a new stake in Alpha Cognition during the 2nd quarter worth about $116,000. Salem Investment Counselors Inc. acquired a new stake in Alpha Cognition during the 1st quarter worth about $230,000. Villere ST Denis J & Co. LLC boosted its position in Alpha Cognition by 201.0% during the 1st quarter. Villere ST Denis J & Co. LLC now owns 71,778 shares of the company's stock worth $363,000 after acquiring an additional 47,928 shares during the period. Finally, Manatuck Hill Partners LLC boosted its position in Alpha Cognition by 74.6% during the 2nd quarter. Manatuck Hill Partners LLC now owns 117,000 shares of the company's stock worth $1,092,000 after acquiring an additional 50,000 shares during the period.

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.