Alpha Cognition (NASDAQ:ACOG) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Alpha Cognition Inc. (NASDAQ:ACOG) shares crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $8.94 and traded as high as $9.20. Alpha Cognition shares last traded at $9.17, with a volume of 96,631 shares traded.

Analyst Upgrades and Downgrades

ACOG has been the topic of a number of research reports. Craig Hallum restated a “buy” rating and issued a $17.00 price objective on shares of Alpha Cognition in a report on Friday, August 14th. B. Riley Financial started coverage on shares of Alpha Cognition in a research report on Thursday, August 20th. They issued a “buy” rating and a $21.00 target price for the company. Raymond James Financial began coverage on shares of Alpha Cognition in a research note on Friday, July 10th. They issued an “outperform” rating and a $20.00 price target on the stock. Wall Street Zen raised shares of Alpha Cognition from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, HC Wainwright boosted their price target on shares of Alpha Cognition from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Five investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $18.00.

Alpha Cognition Price Performance

The stock has a market cap of $199.70 million, a price-to-earnings ratio of -8.34 and a beta of 2.32. The firm has a fifty day moving average of $8.94 and a 200 day moving average of $7.12.

Alpha Cognition (NASDAQ:ACOG) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). The company had revenue of $6.00 million for the quarter, compared to analyst estimates of $4.38 million. Alpha Cognition had a negative return on equity of 54.60% and a negative net margin of 153.61%. Research analysts anticipate that Alpha Cognition Inc. will post -1.38 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Wills purchased 10,000 shares of Alpha Cognition stock in a transaction dated Friday, August 21st. The shares were acquired at an average price of $9.62 per share, for a total transaction of $96,200.00. Following the acquisition, the director directly owned 32,241 shares in the company, valued at approximately $310,158.42. The trade was a 44.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Aristides Capital LLC grew its holdings in shares of Alpha Cognition by 1.4% in the first quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock valued at $1,200,000 after purchasing an additional 3,052 shares during the period. Opaleye Management Inc. increased its position in Alpha Cognition by 13.0% during the second quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company’s stock worth $20,905,000 after purchasing an additional 333,517 shares during the last quarter. Finally, AWM Investment Company Inc. acquired a new stake in Alpha Cognition during the second quarter worth about $12,073,000.

Alpha Cognition Company Profile

Alpha Cognition Inc is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative diseases and cognitive disorders. The company’s work is centered on therapies intended to address the medical needs of patients with Alzheimer’s disease and other conditions affecting cognition.

Its lead commercial product is ZUNOVO (galantamine hydrobromide) extended-release capsules, an orally administered treatment approved by the U.S. Food and Drug Administration for mild-to-moderate dementia of the Alzheimer’s type.