Short Interest in Alpha Cognition Inc. (NASDAQ:ACOG) Drops By 37.3%

Alpha Cognition Inc. (NASDAQ:ACOG) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 205,331 shares, a decline of 37.3% from the March 31st total of 327,498 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 73,049 shares, the short-interest ratio is currently 2.8 days.

Alpha Cognition Stock Performance

Shares of ACOG opened at $6.86 on Monday. Alpha Cognition has a 52-week low of $4.50 and a 52-week high of $11.54. The business’s 50 day moving average price is $6.00 and its two-hundred day moving average price is $6.01. The firm has a market cap of $149.34 million, a PE ratio of -5.91 and a beta of 2.51.

Alpha Cognition (NASDAQ:ACOG) last issued 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 55.71%. The business had revenue of $2.60 million during the quarter, compared to analyst estimates of $4.41 million. Research analysts predict that Alpha Cognition will post -1.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Craig Hallum assumed coverage on shares of Alpha Cognition in a report on Friday, April 17th. They issued a “buy” rating and a $14.00 target price on the stock. Wall Street Zen upgraded shares of Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Two 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 price target of $16.00.

Hedge Funds Weigh In On Alpha Cognition

Several institutional investors have recently made changes to their positions in ACOG. Opaleye Management Inc. raised 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 purchasing an additional 1,955,642 shares during the period. AWM Investment Company Inc. raised its holdings in shares of 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 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 fourth quarter valued at about $2,372,000. Cable Car Capital LP raised its holdings in shares of Alpha Cognition by 68.8% during the second quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock valued at $8,108,000 after purchasing an additional 354,278 shares during the period. Finally, Sphera Funds Management LTD. raised its position 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.

Alpha Cognition Company Profile

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.