Alpha Cognition Inc. (NASDAQ:ACOG) Short Interest Up 66.0% in July

Alpha Cognition Inc. (NASDAQ:ACOG) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 215,576 shares, a growth of 66.0% from the June 30th total of 129,902 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 61,183 shares, the short-interest ratio is presently 3.5 days.

Alpha Cognition Trading Down 5.2%

Shares of NASDAQ ACOG opened at $8.28 on Friday. Alpha Cognition has a one year low of $4.50 and a one year high of $10.15. The business has a 50-day moving average price of $7.18 and a two-hundred day moving average price of $6.31. The firm has a market capitalization of $180.26 million, a PE ratio of -6.13 and a beta of 2.32.

Alpha Cognition (NASDAQ:ACOG) last issued its earnings results on Thursday, May 14th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.04. The company had revenue of $3.53 million for the quarter, compared to the consensus estimate of $3.42 million. Alpha Cognition had a negative return on equity of 58.35% and a negative net margin of 232.23%. Research analysts anticipate that Alpha Cognition will post -1.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACOG. Maxim Group started coverage on Alpha Cognition in a research report on Friday, May 29th. They issued a “buy” rating and a $12.00 price target for the company. Raymond James Financial initiated coverage on Alpha Cognition in a report on Friday, July 10th. They set an “outperform” rating and a $20.00 price objective on the stock. Craig Hallum started coverage on shares of Alpha Cognition in a research note on Friday, April 17th. They set a “buy” rating and a $14.00 price objective for the company. Wall Street Zen cut shares of Alpha Cognition from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Alpha Cognition in a research report on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $16.00.

Institutional Investors Weigh In On Alpha Cognition

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC acquired a new stake in shares of Alpha Cognition during the 2nd quarter valued at $112,000. Massar Capital Management LP acquired a new position in shares of Alpha Cognition in the second quarter worth $116,000. Two Sigma Investments LP acquired a new position in shares of Alpha Cognition in the third quarter worth $148,000. Connective Capital Management LLC acquired a new position in shares of Alpha Cognition in the third quarter worth $312,000. Finally, ACT Capital Management LLC purchased a new stake in shares of Alpha Cognition during the fourth quarter worth $335,000.

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.