Alpha Cognition (NASDAQ:ACOG) Stock Price Up 13.3% – Should You Buy?

Alpha Cognition Inc. (NASDAQ:ACOG) was up 13.3% during trading on Friday . The company traded as high as $5.20 and last traded at $5.10. Approximately 28,485 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 67,077 shares. The stock had previously closed at $4.50.

Analysts Set New Price Targets

ACOG has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of 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 set a $18.00 price target on shares of Alpha Cognition in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $18.00.

Alpha Cognition Stock Up 13.3%

The stock has a market cap of $110.87 million, a price-to-earnings ratio of -3.72 and a beta of 2.60. The company has a 50 day simple moving average of $5.82 and a 200 day simple moving average of $7.06.

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

Institutional Trading of Alpha Cognition

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC bought a new position in shares of Alpha Cognition in the 2nd quarter valued at $112,000. Marshall Wace LLP bought a new stake in Alpha Cognition during the 2nd quarter worth $600,000. Cable Car Capital LP increased its holdings in 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 purchasing an additional 354,278 shares in the last quarter. Massar Capital Management LP bought a new position in Alpha Cognition in the second quarter valued at about $116,000. Finally, Manatuck Hill Partners LLC raised its position in Alpha Cognition by 74.6% in 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.

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.