AWM Investment Company Inc. Buys New Shares in Alpha Cognition Inc. $ACOG

Key Points

• AWM Investment Company Inc. has acquired a $5.79 million stake in Alpha Cognition Inc., purchasing over 1 million shares, which constitutes approximately 6.84% of the company's stock.
• Analysts have generally favorable views of Alpha Cognition, with the company receiving a "buy" rating and a consensus price target of $20.00 per share.
• Alpha Cognition reported a quarterly loss of $0.65 per share, missing estimates, and had revenues of $1.66 million, below analyst expectations.

AWM Investment Company Inc. bought a new position in Alpha Cognition Inc. (NASDAQ:ACOG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,095,652 shares of the company's stock, valued at approximately $5,785,000. AWM Investment Company Inc. owned approximately 6.84% of Alpha Cognition at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sphera Funds Management LTD. acquired a new stake in Alpha Cognition during the 4th quarter valued at $3,652,000. Alyeska Investment Group L.P. acquired a new stake in Alpha Cognition during the 4th quarter valued at $2,356,000. Tudor Investment Corp ET AL acquired a new stake in Alpha Cognition during the 4th quarter valued at $412,000. Villere ST Denis J & Co. LLC increased its holdings 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 valued at $363,000 after purchasing an additional 47,928 shares in the last quarter. Finally, Salem Investment Counselors Inc. acquired a new stake in Alpha Cognition during the 1st quarter valued at $230,000.

Analysts Set New Price Targets

A number of brokerages have commented on ACOG. HC Wainwright reiterated a "buy" rating and issued a $20.00 price objective on shares of Alpha Cognition in a research report on Friday, May 16th. Wall Street Zen upgraded Alpha Cognition from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Alpha Cognition has an average rating of "Buy" and a consensus price target of $20.00.

Insider Transactions at Alpha Cognition

In other news, Director Phillip Joseph Mertz sold 27,778 shares of the business'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 directly owned 22,462 shares in the company, valued at $202,158. The trade was a 55.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert James Wills purchased 15,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $8.49 per share, for a total transaction of $127,350.00. Following the completion of the acquisition, the director owned 15,000 shares of the company's stock, valued at approximately $127,350. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 14.00% of the company's stock.

Alpha Cognition Trading Up 6.6%

Shares of NASDAQ:ACOG traded up $0.55 during midday trading on Friday, hitting $8.90. The company had a trading volume of 141,447 shares, compared to its average volume of 65,159. Alpha Cognition Inc. has a 12 month low of $3.75 and a 12 month high of $11.54. The stock has a market cap of $143.82 million, a price-to-earnings ratio of -5.56 and a beta of 2.71. The firm has a fifty day simple moving average of $9.35 and a 200 day simple moving average of $7.64.

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

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.