Alpha Cognition (NASDAQ:ACOG) Stock Dropped to “Sell” by Wall Street Zen

Wall Street Zen lowered shares of Alpha Cognition (NASDAQ:ACOG) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

ACOG has been the subject of several other reports. B. Riley Financial began coverage on Alpha Cognition in a report on Thursday, August 20th. They set a “buy” rating and a $21.00 target price for the company. Raymond James Financial set a $21.00 price target on Alpha Cognition and gave the stock an “outperform” rating in a research report on Thursday. Craig Hallum reissued a “buy” rating and issued a $17.00 price target on shares of Alpha Cognition in a report on Friday, August 14th. Finally, HC Wainwright boosted their price objective on Alpha Cognition from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Five research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $18.20.

Alpha Cognition Stock Performance

Shares of NASDAQ ACOG traded down $0.26 during midday trading on Friday, hitting $8.30. The company’s stock had a trading volume of 87,289 shares, compared to its average volume of 106,270. Alpha Cognition has a 1-year low of $4.50 and a 1-year high of $10.14. The firm’s fifty day moving average price is $8.74 and its 200-day moving average price is $7.28. The firm has a market cap of $180.77 million, a P/E ratio of -6.06 and a beta of 2.32.

Alpha Cognition (NASDAQ:ACOG) last announced its quarterly earnings data on Wednesday, November 11th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). Alpha Cognition had a negative net margin of 147.26% and a negative return on equity of 50.90%. The business had revenue of $7.78 million for the quarter, compared to the consensus estimate of $7.04 million. As a group, research analysts predict that Alpha Cognition will post -1.38 earnings per share for the current fiscal year.

Insider Activity at Alpha Cognition

In other news, Director Robert Wills purchased 10,000 shares of the stock in a transaction dated Friday, August 21st. The stock was acquired at an average price of $9.62 per share, for a total transaction of $96,200.00. Following the completion of the transaction, the director owned 32,241 shares of the company’s stock, valued at approximately $310,158.42. The trade was a 44.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Alpha Cognition

Hedge funds have recently bought and sold shares of the company. Opaleye Management Inc. boosted its stake in Alpha Cognition by 13.0% during the 2nd quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company’s stock valued at $20,905,000 after purchasing an additional 333,517 shares during the period. AWM Investment Company Inc. acquired a new stake in shares of Alpha Cognition in the second quarter valued at approximately $12,073,000. Aristides Capital LLC raised its holdings in shares of Alpha Cognition by 1.4% during the first quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock valued at $1,200,000 after buying an additional 3,052 shares during the last quarter. ACT Capital Partners L.P. bought a new stake in shares of Alpha Cognition during the third quarter valued at approximately $464,000. Finally, Marshall Wace LLP bought a new stake in shares of Alpha Cognition during the third quarter valued at approximately $449,000.

Alpha Cognition Company Profile

Alpha Cognition Inc. is a biopharmaceutical company focused on developing treatments for people with neurodegenerative diseases and cognitive disorders. The company is based in Vancouver, British Columbia. Its lead product, ZUNVEYL (benzgalantamine), is an oral medication approved by the U.S. Food and Drug Administration to treat mild to moderate dementia of the Alzheimer’s type. The company developed benzgalantamine as a prodrug of galantamine. Alpha Cognition is also developing ALPHA-1062 for potential use in other cognitive disorders, including cognitive impairment associated with traumatic brain injury.