Alpha Cognition Inc. (NASDAQ:ACOG) Short Interest Up 60.0% in December

Alpha Cognition Inc. (NASDAQ:ACOG) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 167,235 shares, an increase of 60.0% from the November 30th total of 104,493 shares. Based on an average daily volume of 97,064 shares, the short-interest ratio is presently 1.7 days. Approximately 0.9% of the company’s shares are sold short. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 97,064 shares, the short-interest ratio is presently 1.7 days.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ACOG. Geode Capital Management LLC bought a new stake in shares of Alpha Cognition during the second quarter worth $112,000. Massar Capital Management LP bought a new stake in Alpha Cognition in the 2nd quarter valued at $116,000. Berkshire Asset Management LLC PA boosted its stake in Alpha Cognition by 50.7% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 17,824 shares of the company’s stock worth $116,000 after purchasing an additional 6,000 shares during the period. Zullo Investment Group Inc. bought a new position in Alpha Cognition during the 3rd quarter worth about $127,000. Finally, Two Sigma Investments LP bought a new position in Alpha Cognition during the 3rd quarter worth about $148,000.

Alpha Cognition Trading Up 0.2%

NASDAQ:ACOG opened at $6.26 on Monday. Alpha Cognition has a 1 year low of $3.75 and a 1 year high of $11.54. The stock has a 50-day moving average price of $6.05 and a two-hundred day moving average price of $7.88. The stock has a market cap of $136.09 million, a price-to-earnings ratio of -4.57 and a beta of 2.62.

Alpha Cognition (NASDAQ:ACOG) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.13. The business had revenue of $2.84 million for the quarter, compared to analyst estimates of $3.21 million.

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.