Alpha Cognition Inc. (NASDAQ:ACOG) Sees Large Increase in Short Interest

Alpha Cognition Inc. (NASDAQ:ACOG) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totaling 167,235 shares, an increase of 60.0% from the November 30th total of 104,493 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 97,064 shares, the short-interest ratio is presently 1.7 days. Based on an average daily trading volume, of 97,064 shares, the short-interest ratio is presently 1.7 days. Approximately 0.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On Alpha Cognition

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AWM Investment Company Inc. bought a new stake in shares of Alpha Cognition during the 1st quarter valued at $5,785,000. Cable Car Capital LP lifted its holdings in shares of Alpha Cognition by 68.8% in 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 in the last quarter. Marshall Wace LLP acquired a new position in Alpha Cognition during the 2nd quarter worth approximately $600,000. Manatuck Hill Partners LLC boosted its holdings in Alpha Cognition by 74.6% during the second quarter. Manatuck Hill Partners LLC now owns 117,000 shares of the company’s stock worth $1,092,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Connective Capital Management LLC acquired a new position in Alpha Cognition during the third quarter valued at approximately $312,000.

Alpha Cognition Stock Up 0.2%

Shares of ACOG stock opened at $6.26 on Friday. The stock has a 50-day moving average price of $6.05 and a 200 day moving average price of $7.89. The firm has a market cap of $136.09 million, a price-to-earnings ratio of -4.57 and a beta of 2.62. Alpha Cognition has a 12 month low of $3.75 and a 12 month high of $11.54.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ACOG. Wall Street Zen upgraded shares of Alpha Cognition from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Alpha Cognition in a report on Friday, December 19th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $18.00.

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.