Alpha Cognition (NASDAQ:ACOG) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Alpha Cognition Inc. (NASDAQ:ACOG)’s stock price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $8.78 and traded as low as $8.50. Alpha Cognition shares last traded at $8.73, with a volume of 107,835 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ACOG shares. Wall Street Zen raised Alpha Cognition from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. B. Riley Financial assumed coverage on Alpha Cognition in a research report on Thursday, August 20th. They issued a “buy” rating and a $21.00 price target on the stock. Craig Hallum reaffirmed a “buy” rating and issued a $17.00 price target on shares of Alpha Cognition in a research report on Friday, August 14th. Finally, HC Wainwright lifted their price objective on Alpha Cognition from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Five equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $18.00.

Alpha Cognition Stock Performance

The firm has a market capitalization of $190.14 million, a PE ratio of -7.94 and a beta of 2.32. The company’s 50-day moving average price is $8.78 and its 200-day moving average price is $7.24.

Alpha Cognition (NASDAQ:ACOG) last issued its earnings results on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts anticipate that Alpha Cognition Inc. will post -1.38 earnings per share for the current year.

Insider Transactions at Alpha Cognition

In other Alpha Cognition news, Director Robert Wills purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was bought at an average cost of $9.62 per share, with a total value of $96,200.00. Following the acquisition, the director directly owned 32,241 shares of the company’s stock, valued at approximately $310,158.42. This represents a 44.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alpha Cognition

Hedge funds and other institutional investors have recently made changes to their positions in the business. ACT Capital Partners L.P. purchased a new stake in Alpha Cognition during the third quarter worth approximately $464,000. Pekin Hardy Strauss Inc. acquired a new position in Alpha Cognition in the third quarter valued at approximately $210,000. Opaleye Management Inc. increased its stake in Alpha Cognition by 13.0% in the second 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 last quarter. AWM Investment Company Inc. purchased a new position in Alpha Cognition in the second quarter valued at approximately $12,073,000. Finally, Aristides Capital LLC increased its stake in Alpha Cognition by 1.4% in the first quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock valued at $1,200,000 after purchasing an additional 3,052 shares during the last quarter.

About Alpha Cognition

Alpha Cognition Inc. is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative diseases and cognitive disorders. The company’s work is centered on therapies intended to address the medical needs of patients with Alzheimer’s disease and other conditions affecting cognition. Its lead commercial product is ZUNOVO (galantamine hydrobromide) extended-release capsules, an orally administered treatment approved by the U.S. Food and Drug Administration for mild-to-moderate dementia of the Alzheimer’s type.