Alpha Cognition (NASDAQ:ACOG) Share Price Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• Alpha Cognition shares rose above their 50-day moving average, reaching $9.20 and last trading at $9.17, compared with a 50-day average of $8.94.
• Analyst sentiment remains positive: five analysts rate the stock a Buy, with a consensus price target of $18.00 versus the current price. Recent targets range from $17 to $21.
• The company reported a quarterly loss of $0.40 per share, slightly worse than expectations, but revenue of $6.00 million exceeded estimates. A director also purchased 10,000 shares, while institutional investors increased their holdings.

Alpha Cognition Inc. (NASDAQ:ACOG - Get Free Report) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $8.94 and traded as high as $9.20. Alpha Cognition shares last traded at $9.17, with a volume of 96,631 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently commented on ACOG shares. Wall Street Zen raised shares of Alpha Cognition from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. HC Wainwright raised their target price on shares of Alpha Cognition from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, August 17th. Craig Hallum restated a "buy" rating and set a $17.00 target price on shares of Alpha Cognition in a research report on Friday, August 14th. B. Riley Financial initiated coverage on shares of Alpha Cognition in a research report on Thursday, August 20th. They set a "buy" rating and a $21.00 target price for the company. Finally, Raymond James Financial began coverage on shares of Alpha Cognition in a report on Friday, July 10th. They issued an "outperform" rating and a $20.00 price target on the stock. Five analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $18.00.

Alpha Cognition Stock Performance

The stock has a market cap of $199.70 million, a price-to-earnings ratio of -8.34 and a beta of 2.32. The business's 50 day moving average is $8.94 and its 200-day moving average is $7.12.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.01). The company had revenue of $6.00 million for the quarter, compared to analyst estimates of $4.38 million. Alpha Cognition had a negative return on equity of 54.60% and a negative net margin of 153.61%. Sell-side analysts anticipate that Alpha Cognition Inc. will post -1.38 EPS for the current fiscal year.

Insider Activity at Alpha Cognition

In related news, Director Robert Wills bought 10,000 shares of the business's stock in a transaction dated Friday, August 21st. The stock was acquired at an average price of $9.62 per share, with a total value of $96,200.00. Following the completion of the purchase, the director directly owned 32,241 shares of the company's stock, valued at approximately $310,158.42. This trade represents a 44.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aristides Capital LLC boosted its holdings in Alpha Cognition by 1.4% in the 1st quarter. Aristides Capital LLC now owns 218,510 shares of the company's stock worth $1,200,000 after buying an additional 3,052 shares during the last quarter. Opaleye Management Inc. increased its stake in Alpha Cognition by 13.0% during the 2nd quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company's stock worth $20,905,000 after buying an additional 333,517 shares in the last quarter. Finally, AWM Investment Company Inc. acquired a new position in shares of Alpha Cognition during the second quarter valued at approximately $12,073,000.

About Alpha Cognition

Alpha Cognition Inc is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative diseases and cognitive disorders. The company's work is centered on therapies intended to address the medical needs of patients with Alzheimer's disease and other conditions affecting cognition.

Its lead commercial product is ZUNOVO (galantamine hydrobromide) extended-release capsules, an orally administered treatment approved by the U.S. Food and Drug Administration for mild-to-moderate dementia of the Alzheimer's type.

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