Alpha Cognition Inc. (NASDAQ:ACOG) Short Interest Down 37.8% in September

Alpha Cognition Inc. (NASDAQ:ACOG) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 50,600 shares, a decrease of 37.8% from the August 31st total of 81,400 shares. Based on an average trading volume of 66,400 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.4% of the shares of the stock are sold short. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 66,400 shares, the days-to-cover ratio is presently 0.8 days.

Alpha Cognition Trading Down 1.1%

Shares of ACOG stock opened at $7.40 on Tuesday. The company’s 50-day moving average price is $8.50 and its 200-day moving average price is $8.03. The stock has a market cap of $154.66 million, a price-to-earnings ratio of -4.63 and a beta of 2.63. Alpha Cognition has a twelve month low of $3.75 and a twelve month high of $11.54.

Alpha Cognition (NASDAQ:ACOG) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.19). The company had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $2.32 million.

Insider Buying and Selling

In other news, Director Phillip Joseph Mertz sold 27,778 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.00, for a total value of $250,002.00. Following the transaction, the director owned 22,462 shares in the company, valued at $202,158. This trade represents a 55.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert James Wills purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average price of $8.49 per share, with a total value of $127,350.00. Following the completion of the transaction, the director directly owned 15,000 shares of the company’s stock, valued at $127,350. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 14.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. purchased a new position in Alpha Cognition in the first quarter worth approximately $5,785,000. Cable Car Capital LP grew its holdings in shares of Alpha Cognition by 68.8% during the 2nd quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock worth $8,108,000 after purchasing an additional 354,278 shares during the period. Marshall Wace LLP acquired a new stake in shares of Alpha Cognition during the 2nd quarter worth about $600,000. Manatuck Hill Partners LLC raised its holdings in Alpha Cognition by 74.6% in the 2nd quarter. Manatuck Hill Partners LLC now owns 117,000 shares of the company’s stock valued at $1,092,000 after buying an additional 50,000 shares during the period. Finally, Villere ST Denis J & Co. LLC lifted its position in Alpha Cognition by 201.0% in the first 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.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Alpha Cognition from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.00.

About Alpha Cognition

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.