In a recent transaction, Michael E. McFadden, the Chief Executive Officer of Alpha Cognition Inc. (NASDAQ:ACOG), acquired 2,608 common shares of the company. The shares were purchased at a price of $5.75 each, totaling approximately $14,996. This acquisition was made indirectly through The Michael and Sherri McFadden Family Trust, increasing McFadden's total holdings to 14,142 shares. This transaction reflects McFadden's continued investment in the company, as reported in the latest SEC filing.
InvestingPro Insights
While CEO Michael E. McFadden's recent purchase of Alpha Cognition Inc. (NASDAQ:ACOG) shares demonstrates his confidence in the company, investors should consider additional factors highlighted by InvestingPro data and tips.
According to InvestingPro, ACOG's stock has experienced significant volatility recently. The company's shares have taken a substantial hit over the last week, with a 1-week price total return of -34.01%. This short-term decline is part of a broader trend, as the stock has fallen by 52.69% over the past three months and 55.49% over the last six months.
InvestingPro Tips suggest that Alpha Cognition operates with a moderate level of debt and is not currently profitable. The company's financial metrics support this observation, with a negative gross profit of -$0.06 million and an adjusted operating income of -$11.96 million for the last twelve months as of Q2 2024.
These insights provide context to McFadden's share purchase and highlight the challenges facing the company. Investors considering ACOG may want to explore the additional 8 tips available on InvestingPro for a more comprehensive analysis of the company's prospects.
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