Alpha Cognition (NASDAQ:ACOG) Shares Down 5.6% – Here’s What Happened

Alpha Cognition Inc. (NASDAQ:ACOG) shares traded down 5.6% during mid-day trading on Thursday . The stock traded as low as $5.00 and last traded at $5.05. 236,884 shares changed hands during trading, an increase of 223% from the average session volume of 73,267 shares. The stock had previously closed at $5.35.

Analysts Set New Price Targets

ACOG has been the subject of several recent research reports. HC Wainwright lowered their price objective on shares of Alpha Cognition from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Wall Street Zen upgraded shares of Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $18.00.

Alpha Cognition Trading Down 5.6%

The firm has a market cap of $109.79 million, a PE ratio of -3.69 and a beta of 2.62. The firm has a 50 day moving average price of $6.17 and a 200-day moving average price of $8.04.

Alpha Cognition (NASDAQ:ACOG) last released its earnings results on Thursday, November 13th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.13. The firm had revenue of $2.84 million for the quarter, compared to analysts’ expectations of $3.21 million.

Institutional Investors Weigh In On Alpha Cognition

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC acquired a new position in shares of Alpha Cognition during the second quarter worth $112,000. Massar Capital Management LP acquired a new stake in Alpha Cognition in the second quarter valued at $116,000. Berkshire Asset Management LLC PA lifted its holdings in Alpha Cognition by 50.7% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 17,824 shares of the company’s stock worth $116,000 after buying an additional 6,000 shares during the last quarter. Zullo Investment Group Inc. purchased a new stake in Alpha Cognition during the 3rd quarter worth about $127,000. Finally, Two Sigma Investments LP acquired a new position in shares of Alpha Cognition during the 3rd quarter worth about $148,000.

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.