Salem Investment Counselors Inc. Takes Position in Alpha Cognition, Inc. (NASDAQ:ACOG)

Salem Investment Counselors Inc. purchased a new stake in shares of Alpha Cognition, Inc. (NASDAQ:ACOG) during the 1st quarter, Holdings Channel.com reports. The fund purchased 45,402 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds have also modified their holdings of ACOG. National Bank of Canada FI bought a new stake in shares of Alpha Cognition during the fourth quarter valued at approximately $69,000. Manatuck Hill Partners LLC acquired a new position in Alpha Cognition in the fourth quarter valued at approximately $395,000. Tudor Investment Corp ET AL acquired a new position in Alpha Cognition in the fourth quarter valued at approximately $412,000. MYDA Advisors LLC acquired a new position in Alpha Cognition in the fourth quarter valued at approximately $589,000. Finally, Bleichroeder LP acquired a new position in Alpha Cognition in the fourth quarter valued at approximately $1,024,000.

Alpha Cognition Trading Down 2.6%

ACOG opened at $9.35 on Friday. The stock has a fifty day moving average price of $7.13. Alpha Cognition, Inc. has a twelve month low of $3.75 and a twelve month high of $11.40. The firm has a market capitalization of $149.79 million, a price-to-earnings ratio of -3.65 and a beta of 2.79.

Alpha Cognition (NASDAQ:ACOG) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.38. The company had revenue of $2.93 million for the quarter, compared to the consensus estimate of $0.50 million.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Alpha Cognition in a report on Friday, May 16th. Raymond James upgraded shares of Alpha Cognition to a “moderate buy” rating in a report on Tuesday, March 25th.

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.