Salem Investment Counselors Inc. Takes Position in Alpha Cognition, Inc. (NASDAQ:ACOG)

Salem Investment Counselors Inc. bought a new stake in Alpha Cognition, Inc. (NASDAQ:ACOG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 45,402 shares of the company’s stock, valued at approximately $230,000. Salem Investment Counselors Inc. owned 0.28% of Alpha Cognition as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ACOG. Rosalind Advisors Inc. bought a new stake in Alpha Cognition in the fourth quarter valued at about $1,489,000. National Bank of Canada FI bought a new stake in Alpha Cognition in the fourth quarter valued at about $69,000. Aristides Capital LLC bought a new stake in Alpha Cognition in the fourth quarter valued at about $1,178,000. ADAR1 Capital Management LLC bought a new stake in Alpha Cognition in the fourth quarter valued at about $1,204,000. Finally, Altium Capital Management LLC bought a new stake in Alpha Cognition in the fourth quarter valued at about $1,620,000.

Alpha Cognition Price Performance

Shares of Alpha Cognition stock opened at $9.35 on Friday. The company has a market capitalization of $149.79 million, a PE ratio of -3.65 and a beta of 2.79. Alpha Cognition, Inc. has a 1-year low of $3.75 and a 1-year high of $11.40. The business’s 50-day moving average price is $7.13.

Alpha Cognition (NASDAQ:ACOG) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.38. The firm had revenue of $2.93 million for the quarter, compared to the consensus estimate of $0.50 million.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACOG. Raymond James raised shares of Alpha Cognition to a “moderate buy” rating in a research note on Tuesday, March 25th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alpha Cognition in a research note on Friday, May 16th.

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.