Alpha Cognition (NASDAQ:ACOG) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Alpha Cognition (NASDAQ:ACOG) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Separately, HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Alpha Cognition in a research note on Friday, December 19th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Alpha Cognition has an average rating of “Buy” and an average target price of $18.00.

Alpha Cognition Trading Up 3.7%

ACOG stock opened at $6.20 on Friday. Alpha Cognition has a 1-year low of $3.75 and a 1-year high of $11.54. The business’s 50 day simple moving average is $5.57 and its 200 day simple moving average is $6.09. The firm has a market capitalization of $134.97 million, a PE ratio of -5.34 and a beta of 2.51.

Alpha Cognition (NASDAQ:ACOG) last announced its quarterly earnings results on Thursday, March 26th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Alpha Cognition had a negative net margin of 202.23% and a negative return on equity of 68.21%. The business had revenue of $2.60 million for the quarter, compared to analyst estimates of $4.41 million.

Hedge Funds Weigh In On Alpha Cognition

A number of hedge funds have recently bought and sold shares of ACOG. Opaleye Management Inc. raised its stake in Alpha Cognition by 1,698.5% in the 4th quarter. Opaleye Management Inc. now owns 2,070,784 shares of the company’s stock worth $13,460,000 after purchasing an additional 1,955,642 shares in the last quarter. AWM Investment Company Inc. boosted its holdings in Alpha Cognition by 52.6% in the 4th quarter. AWM Investment Company Inc. now owns 1,672,168 shares of the company’s stock valued at $10,869,000 after purchasing an additional 576,516 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Alpha Cognition during the 4th quarter worth approximately $2,372,000. Cable Car Capital LP grew its position in shares of Alpha Cognition by 68.8% during 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. Finally, Sphera Funds Management LTD. increased its holdings in shares of Alpha Cognition by 67.6% during the fourth quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company’s stock worth $3,690,000 after purchasing an additional 228,864 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.