Alpha Cognition Inc. (NASDAQ:ACOG) Stock Holdings Lessened by Altium Capital Management LLC

Key Points

• Altium Capital Management LLC reduced its stake in Alpha Cognition Inc. by 35.5%, owning 177,416 shares after selling 97,584 shares during the first quarter.
• HC Wainwright reaffirmed a "buy" rating for Alpha Cognition, setting a price target of $20.00 per share.
• Alpha Cognition reported a net loss of ($0.20) earnings per share for the quarter, surpassing the consensus estimate of ($0.58) by $0.38.

Altium Capital Management LLC lowered its stake in Alpha Cognition Inc. (NASDAQ:ACOG - Free Report) by 35.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,416 shares of the company's stock after selling 97,584 shares during the period. Alpha Cognition makes up approximately 2.2% of Altium Capital Management LLC's portfolio, making the stock its 10th biggest holding. Altium Capital Management LLC owned about 1.11% of Alpha Cognition worth $898,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Solas Capital Management LLC acquired a new position in Alpha Cognition during the fourth quarter worth $8,096,000. Sphera Funds Management LTD. acquired a new position in Alpha Cognition during the fourth quarter worth $3,652,000. Alyeska Investment Group L.P. acquired a new position in Alpha Cognition during the fourth quarter worth $2,356,000. Boothbay Fund Management LLC acquired a new position in Alpha Cognition during the fourth quarter worth $1,284,000. Finally, Bleichroeder LP acquired a new position in Alpha Cognition during the fourth quarter worth $1,024,000.

Alpha Cognition Price Performance

ACOG remained flat at $8.00 during trading on Friday. The company's stock had a trading volume of 202,082 shares, compared to its average volume of 57,782. The stock's 50-day moving average price is $9.64 and its 200 day moving average price is $7.40. The firm has a market capitalization of $128.16 million, a P/E ratio of -5.00 and a beta of 2.72. Alpha Cognition Inc. has a one year low of $3.75 and a one year high of $11.54.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last posted its 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 business had revenue of $1.66 million during the quarter, compared to the consensus estimate of $2.32 million.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. 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. Wall Street Zen downgraded Alpha Cognition from a "hold" rating to a "sell" rating in a research report on Saturday.

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.