Alpha Cognition (NASDAQ:ACOG) Trading Down 5.6% – Should You Sell?

Alpha Cognition Inc. (NASDAQ:ACOG)’s share price was down 5.6% during trading on Thursday . The stock traded as low as $5.00 and last traded at $5.05. Approximately 236,884 shares were traded during trading, an increase of 223% from the average daily volume of 73,267 shares. The stock had previously closed at $5.35.

Analyst Ratings Changes

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

Alpha Cognition Trading Up 10.1%

The firm has a market capitalization of $120.89 million, a P/E ratio of -4.06 and a beta of 2.62. The business’s 50 day simple moving average is $6.14 and its two-hundred day simple moving average is $8.01.

Alpha Cognition (NASDAQ:ACOG) last issued its earnings results on Thursday, November 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.13. The firm had revenue of $2.84 million during the quarter, compared to the consensus estimate of $3.21 million.

Institutional Investors Weigh In On Alpha Cognition

Several institutional investors have recently modified their holdings of the business. AWM Investment Company Inc. purchased a new position in Alpha Cognition in the 1st quarter worth about $5,785,000. Cable Car Capital LP grew its stake in shares of Alpha Cognition by 68.8% in the second quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock worth $8,108,000 after acquiring an additional 354,278 shares during the period. Boothbay Fund Management LLC grew its stake in shares of Alpha Cognition by 10.8% in the third quarter. Boothbay Fund Management LLC now owns 291,868 shares of the company’s stock worth $1,900,000 after acquiring an additional 28,392 shares during the period. Manatuck Hill Partners LLC raised its holdings in shares of Alpha Cognition by 74.6% during the second quarter. Manatuck Hill Partners LLC now owns 117,000 shares of the company’s stock valued at $1,092,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Alpha Cognition during the second quarter valued at approximately $600,000.

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.