John Prentiss Havens, a director at Alpha Cognition Inc. (NASDAQ:ACOG), recently acquired 4,347 common shares of the company. The purchase, made on November 13, 2024, was at a price of $5.75 per share, totaling approximately $24,995. Following this transaction, Havens holds 273,272 shares directly. Additionally, he has indirect holdings of 10,000 shares through the John P Havens Trust No. 2, 1,080 shares by John P. Havens, Jr., and 1,235 shares by Mallette Havens. It's noted that Havens disclaims beneficial ownership of the shares held indirectly by John P. Havens, Jr. and Mallette Havens.
InvestingPro Insights
The recent insider purchase by John Prentiss Havens at Alpha Cognition Inc. (NASDAQ:ACOG) comes at a time when the company's stock has been under significant pressure. According to InvestingPro data, ACOG has experienced a sharp decline of 34.01% in just the past week, with a more substantial drop of 55.49% over the last six months. This context makes the director's decision to increase his stake particularly noteworthy.
InvestingPro Tips highlight that ACOG operates with a moderate level of debt and is not currently profitable. The company's financial health is further underscored by its negative gross profit of $0.06 million in the last twelve months, as reported by InvestingPro Data. Additionally, analysts do not anticipate the company will turn a profit this year, which aligns with the reported adjusted operating income of -$11.96 million.
Despite these challenges, Havens' purchase could be seen as a vote of confidence in the company's long-term prospects. It's worth noting that InvestingPro calculates a fair value of $4.58 for ACOG shares, which is below the $5.75 per share that Havens paid. This discrepancy suggests that the director may perceive greater value in the company than current market prices reflect.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for ACOG, providing a deeper understanding of the company's financial position and market performance.
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