Alpha Cognition Inc. (NASDAQ:ACOG) Sees Significant Growth in Short Interest

Alpha Cognition Inc. (NASDAQ:ACOG) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 317,725 shares, a growth of 39.0% from the February 12th total of 228,500 shares. Based on an average trading volume of 76,630 shares, the short-interest ratio is presently 4.1 days. Approximately 1.7% of the shares of the stock are sold short. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 76,630 shares, the short-interest ratio is presently 4.1 days.

Alpha Cognition Stock Performance

Shares of NASDAQ:ACOG opened at $5.75 on Friday. The company has a market cap of $125.01 million, a PE ratio of -4.20 and a beta of 2.55. Alpha Cognition has a 52 week low of $3.75 and a 52 week high of $11.54. The firm has a 50 day simple moving average of $5.68 and a 200 day simple moving average of $6.47.

Wall Street Analyst Weigh In

ACOG has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Alpha Cognition in a report on Friday, December 19th. Wall Street Zen raised Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $18.00.

Institutional Trading of Alpha Cognition

Hedge funds have recently modified their holdings of the business. Opaleye Management Inc. grew its holdings in shares of Alpha Cognition by 1,698.5% during the fourth quarter. Opaleye Management Inc. now owns 2,070,784 shares of the company’s stock valued at $13,460,000 after buying an additional 1,955,642 shares in the last quarter. AWM Investment Company Inc. raised its position in Alpha Cognition by 52.6% during the fourth quarter. AWM Investment Company Inc. now owns 1,672,168 shares of the company’s stock valued at $10,869,000 after buying an additional 576,516 shares during the period. Ikarian Capital LLC lifted its stake in Alpha Cognition by 11.6% in the 4th quarter. Ikarian Capital LLC now owns 1,056,259 shares of the company’s stock worth $6,866,000 after acquiring an additional 110,000 shares in the last quarter. Cable Car Capital LP boosted its position in 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 acquiring an additional 354,278 shares during the period. Finally, Sphera Funds Management LTD. boosted its position in Alpha Cognition by 67.6% during the 4th quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company’s stock worth $3,690,000 after acquiring 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.