Alpha Cognition Inc. (NASDAQ:ACOG) Sees Significant Increase in Short Interest

Alpha Cognition Inc. (NASDAQ:ACOG) was the recipient of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 317,725 shares, a growth of 39.0% from the February 12th total of 228,500 shares. Based on an average trading volume of 76,630 shares, the days-to-cover ratio is presently 4.1 days. Currently, 1.7% of the company’s shares are sold short. Currently, 1.7% of the company’s shares are sold short. Based on an average trading volume of 76,630 shares, the days-to-cover ratio is presently 4.1 days.

Alpha Cognition Trading Down 1.7%

Shares of ACOG opened at $5.75 on Friday. The firm’s 50-day moving average price is $5.68 and its 200-day moving average price is $6.46. The firm has a market capitalization of $125.01 million, a price-to-earnings ratio of -4.20 and a beta of 2.55. Alpha Cognition has a 1-year low of $3.75 and a 1-year high of $11.54.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ACOG. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Alpha Cognition in a research note on Friday, December 19th. Wall Street Zen raised Alpha Cognition from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $18.00.

Institutional Trading of Alpha Cognition

Several institutional investors and hedge funds have recently bought and sold shares of ACOG. Opaleye Management Inc. grew its holdings in shares of Alpha Cognition by 1,698.5% during the 4th quarter. Opaleye Management Inc. now owns 2,070,784 shares of the company’s stock worth $13,460,000 after acquiring an additional 1,955,642 shares during the period. AWM Investment Company Inc. raised its position in shares of Alpha Cognition by 52.6% in the 4th quarter. AWM Investment Company Inc. now owns 1,672,168 shares of the company’s stock worth $10,869,000 after acquiring an additional 576,516 shares in the last quarter. Ikarian Capital LLC raised its position in shares of Alpha Cognition by 11.6% in the 4th quarter. Ikarian Capital LLC now owns 1,056,259 shares of the company’s stock worth $6,866,000 after acquiring an additional 110,000 shares in the last quarter. Cable Car Capital LP lifted its stake in shares of Alpha Cognition by 68.8% in the 2nd quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock valued at $8,108,000 after purchasing an additional 354,278 shares during the period. Finally, Sphera Funds Management LTD. lifted its stake in shares of Alpha Cognition by 67.6% in the 4th quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company’s stock valued at $3,690,000 after purchasing an additional 228,864 shares during the period.

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.