Alpha Cognition Inc. (NASDAQ:ACOG) Sees Large Growth in Short Interest

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

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Alpha Cognition in a research note on Friday, December 19th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.00.

Alpha Cognition Price Performance

Shares of ACOG opened at $5.75 on Monday. 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. The company has a 50-day moving average of $5.68 and a 200 day moving average of $6.45.

Institutional Trading of Alpha Cognition

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