MYDA Advisors LLC Sells 54,000 Shares of Alpha Cognition Inc. $ACOG

Key Points

• MYDA Advisors LLC has reduced its holdings in Alpha Cognition Inc. (NASDAQ: ACOG) by 54%, owning 46,000 shares worth $233,000 after the sale.
• Alpha Cognition reported a loss of ($0.65) EPS in its latest quarterly earnings, missing analyst estimates, with revenue falling short at $1.66 million versus expectations of $2.32 million.
• Analysts have mixed views on ACOG, with HC Wainwright setting a target price of $20.00 but Wall Street Zen downgrading the stock to a "sell" rating.

MYDA Advisors LLC cut its holdings in Alpha Cognition Inc. (NASDAQ:ACOG - Free Report) by 54.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,000 shares of the company's stock after selling 54,000 shares during the period. MYDA Advisors LLC owned approximately 0.29% of Alpha Cognition worth $233,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. bought a new position in Alpha Cognition in the 1st quarter valued at about $230,000. Manatuck Hill Partners LLC acquired a new stake in Alpha Cognition during the 4th quarter worth approximately $395,000. Tudor Investment Corp ET AL bought a new stake in shares of Alpha Cognition in the 4th quarter valued at $412,000. Villere ST Denis J & Co. LLC increased its stake in shares of Alpha Cognition by 201.0% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 71,778 shares of the company's stock valued at $363,000 after acquiring an additional 47,928 shares in the last quarter. Finally, Bleichroeder LP bought a new stake in shares of Alpha Cognition in the 4th quarter valued at $1,024,000.

Insider Activity at Alpha Cognition

In related news, Director Robert James Wills acquired 15,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were bought at an average cost of $8.49 per share, for a total transaction of $127,350.00. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at approximately $127,350. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip Joseph Mertz sold 27,778 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 22,462 shares in the company, valued at approximately $202,158. This trade represents a 55.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.00% of the stock is currently owned by corporate insiders.

Alpha Cognition Trading Up 3.0%

Shares of Alpha Cognition stock traded up $0.24 on Monday, reaching $8.30. The stock had a trading volume of 42,786 shares, compared to its average volume of 69,559. The business's 50 day moving average is $9.42 and its two-hundred day moving average is $7.58. The company has a market cap of $134.13 million, a P/E ratio of -5.19 and a beta of 2.71. Alpha Cognition Inc. has a 1 year low of $3.75 and a 1 year high of $11.54.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.19). The company had revenue of $1.66 million for the quarter, compared to the consensus estimate of $2.32 million.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ACOG shares. Wall Street Zen upgraded shares of Alpha Cognition from a "sell" rating to a "hold" rating in a research note on Saturday. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Alpha Cognition in a report on Friday, May 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $20.00.

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.