Alpha Cognition Inc. (NASDAQ:ACOG) Shares Sold 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 trimmed its stake in shares of 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 & Exchange Commission. The firm owned 177,416 shares of the company's stock after selling 97,584 shares during the period. Alpha Cognition comprises about 2.2% of Altium Capital Management LLC's portfolio, making the stock its 10th largest position. Altium Capital Management LLC owned about 1.11% of Alpha Cognition worth $898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Salem Investment Counselors Inc. acquired a new position in shares of Alpha Cognition during the 1st quarter worth about $230,000. Villere ST Denis J & Co. LLC grew its stake in 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 buying an additional 47,928 shares during the last quarter. Manatuck Hill Partners LLC acquired a new position in Alpha Cognition in the 4th quarter valued at about $395,000. Tudor Investment Corp ET AL acquired a new position in Alpha Cognition in the 4th quarter valued at about $412,000. Finally, MYDA Advisors LLC acquired a new position in Alpha Cognition in the 4th quarter valued at about $589,000.

Alpha Cognition Price Performance

NASDAQ ACOG remained flat at $8.00 during trading on Friday. 202,082 shares of the company's stock were exchanged, compared to its average volume of 57,782. The stock has a market cap of $128.16 million, a price-to-earnings ratio of -5.00 and a beta of 2.72. Alpha Cognition Inc. has a 52-week low of $3.75 and a 52-week high of $11.54. The company has a 50 day moving average of $9.64 and a 200 day moving average of $7.41.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.19). The business had revenue of $1.66 million for the quarter, compared to analysts' expectations of $2.32 million.

Wall Street Analysts Forecast Growth

ACOG has been the topic of a number of research reports. Wall Street Zen lowered shares of Alpha Cognition from a "hold" rating to a "sell" rating in a research note on Saturday. HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Alpha Cognition in a report on Friday, May 16th.

Alpha Cognition 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.