Alpha Cognition (NASDAQ:ACOG) Shares Down 1.2% – Should You Sell?

Alpha Cognition Inc. (NASDAQ:ACOG) was down 1.2% during trading on Thursday . The company traded as low as $6.37 and last traded at $6.50. Approximately 51,631 shares were traded during mid-day trading, an increase of 53% from the average session volume of 33,820 shares. The stock had previously closed at $6.58.

Analyst Upgrades and Downgrades

ACOG has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Alpha Cognition from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Maxim Group started coverage on shares of Alpha Cognition in a research note on Friday, May 29th. They issued a “buy” rating and a $12.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Alpha Cognition in a report on Friday, May 22nd. Finally, Craig Hallum assumed coverage on shares of Alpha Cognition in a research report on Friday, April 17th. They set a “buy” rating and a $14.00 target price on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Alpha Cognition has an average rating of “Buy” and an average price target of $14.67.

Alpha Cognition Stock Performance

The company has a 50 day moving average of $6.22 and a 200 day moving average of $5.94. The firm has a market cap of $141.53 million, a price-to-earnings ratio of -4.81 and a beta of 2.36.

Alpha Cognition (NASDAQ:ACOG) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.04. Alpha Cognition had a negative return on equity of 58.35% and a negative net margin of 232.23%.The firm had revenue of $3.53 million during the quarter, compared to analyst estimates of $3.42 million. As a group, sell-side analysts anticipate that Alpha Cognition Inc. will post -1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Alpha Cognition

Several institutional investors have recently added to or reduced their stakes in the company. Green Alpha Advisors LLC acquired a new position in Alpha Cognition in the fourth quarter valued at about $72,000. Geode Capital Management LLC acquired a new stake in shares of Alpha Cognition during the second quarter worth approximately $112,000. Massar Capital Management LP bought a new position in shares of Alpha Cognition in the second quarter valued at approximately $116,000. Two Sigma Investments LP bought a new position in shares of Alpha Cognition in the third quarter valued at approximately $148,000. Finally, Connective Capital Management LLC acquired a new position in shares of Alpha Cognition in the 3rd quarter worth approximately $312,000.

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.