Insider Buying: Alpha Cognition (NASDAQ:ACOG) Director Purchases 10,000 Shares

Alpha Cognition Inc. (NASDAQ:ACOG) Director Robert James Wills bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average price of $9.62 per share, with a total value of $96,200.00. Following the transaction, the director directly owned 32,241 shares in the company, valued at $310,158.42. This represents a 44.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Alpha Cognition Stock Down 0.6%

NASDAQ:ACOG traded down $0.06 on Monday, reaching $9.70. The stock had a trading volume of 108,538 shares, compared to its average volume of 71,501. The company has a market capitalization of $211.16 million, a P/E ratio of -8.91 and a beta of 2.30. Alpha Cognition Inc. has a 1-year low of $4.50 and a 1-year high of $10.10. The stock has a fifty day moving average price of $8.05 and a 200-day moving average price of $6.66.

Alpha Cognition (NASDAQ:ACOG) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.01). The firm had revenue of $6.00 million for the quarter, compared to analyst estimates of $4.38 million. Alpha Cognition had a negative return on equity of 54.60% and a negative net margin of 153.61%. Sell-side analysts predict that Alpha Cognition Inc. will post -1.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ACOG. Craig Hallum restated a “buy” rating and set a $17.00 target price on shares of Alpha Cognition in a report on Friday, August 14th. Maxim Group assumed coverage on shares of Alpha Cognition in a research report on Friday, May 29th. They issued a “buy” rating and a $12.00 price objective for the company. Wall Street Zen raised shares of Alpha Cognition from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Raymond James Financial initiated coverage on shares of Alpha Cognition in a research report on Friday, July 10th. They set an “outperform” rating and a $20.00 target price on the stock. Finally, B. Riley Financial initiated coverage on shares of Alpha Cognition in a research note on Thursday. They set a “buy” rating and a $21.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $18.00.

Institutional Trading of Alpha Cognition

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aristides Capital LLC raised its position in shares of Alpha Cognition by 1.4% during the 1st quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock valued at $1,200,000 after acquiring an additional 3,052 shares during the last quarter. Geode Capital Management LLC bought a new position in shares of Alpha Cognition in the 2nd quarter worth $112,000. Massar Capital Management LP bought a new position in shares of Alpha Cognition in the 2nd quarter worth $116,000. Two Sigma Investments LP acquired a new stake in shares of Alpha Cognition during the third quarter worth $148,000. Finally, Boothbay Fund Management LLC grew its stake in shares of Alpha Cognition by 10.8% during the third quarter. Boothbay Fund Management LLC now owns 291,868 shares of the company’s stock worth $1,900,000 after purchasing an additional 28,392 shares during the period.

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.