Alpha Cognition Inc. $ACOG Position Reduced by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. reduced its stake in Alpha Cognition Inc. by 15.6%, holding approximately $1.71 million in shares after selling 62,534 shares during the first quarter.
• Wall Street analysts have mixed views on the stock, with one upgrading it to a "hold" rating and another maintaining a "buy" rating with a target price of $20.00.
• In recent insider trading, Director Robert James Wills purchased 15,000 shares while Director Phillip Joseph Mertz sold 27,778 shares, reflecting diverse sentiment among company insiders.

Alyeska Investment Group L.P. reduced its stake in shares of Alpha Cognition Inc. (NASDAQ:ACOG - Free Report) by 15.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,466 shares of the company's stock after selling 62,534 shares during the quarter. Alyeska Investment Group L.P. owned about 2.11% of Alpha Cognition worth $1,708,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Villere ST Denis J & Co. LLC grew its holdings 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 worth $363,000 after buying an additional 47,928 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in Alpha Cognition during the 1st quarter worth $230,000. Sphera Funds Management LTD. bought a new position in shares of Alpha Cognition in the fourth quarter worth $3,652,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Alpha Cognition during the fourth quarter valued at $412,000.

Wall Street Analyst Weigh In

ACOG has been the subject of several research analyst reports. Wall Street Zen raised shares of Alpha Cognition from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Alpha Cognition in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $20.00.

Alpha Cognition Trading Up 1.3%

NASDAQ:ACOG traded up $0.13 during mid-day trading on Thursday, reaching $9.78. 67,554 shares of the stock were exchanged, compared to its average volume of 79,004. The business has a fifty day moving average price of $9.33 and a 200 day moving average price of $7.73. The firm has a market capitalization of $158.04 million, a PE ratio of -6.11 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 issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.65) earnings per share 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 the consensus estimate of $2.32 million.

Insider Buying and Selling

In other Alpha Cognition news, Director Robert James Wills purchased 15,000 shares of the firm's stock in a transaction on Monday, August 18th. The shares were purchased at an average price 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 $127,350. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phillip Joseph Mertz sold 27,778 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.00, for a total value of $250,002.00. Following the completion of the transaction, the director directly owned 22,462 shares in the company, valued at $202,158. This represents a 55.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.00% of the company's stock.

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.