Alpha Cognition (ACOG) 10% Owner Opaleye Management Buys Shares

What Happened
Opaleye Management Inc., reported as a 10% owner of Alpha Cognition, made multiple purchases of ACOG common stock (transaction code P = purchase) between Sept 14 and Sept 16, 2026. The filing shows four purchases totaling 123,918 shares for aggregate cash consideration of approximately $1,062,506:

• 2026-09-14: 40,373 shares at $8.70 — $351,084
• 2026-09-15: 3,375 shares at $8.54 — $28,831
• 2026-09-16: 53,029 shares at $8.57 — $454,607
• 2026-09-16: 27,141 shares at $8.40 — $227,984
  These were purchases (a flow of buying activity), which many investors view as a more informative signal than routine selling. The filing does not state that these were part of an executive compensation event.

Key Details

• Transaction dates: Sept 14, 15 and 16, 2026. All trades reported as purchases (code P).
• Prices: reported per‑share amounts above; several prices are reported as weighted averages — filing footnotes provide purchase price ranges of $8.664–$8.72, $8.53–$8.57, and $8.46–$8.70 (see F3–F5).
• Total shares bought: 123,918; total cash spent: ~$1,062,506.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1–F2 note shares are held by related entities (Opaleye, L.P. and a separately managed account) that Opaleye Management oversees; F6 disclaims beneficial ownership except to the extent of pecuniary interest. F3–F5 note weighted‑average pricing and range details.
• Timeliness: Form 4 filed 2026-09-16 covering transactions from Sept 14–16; filing appears to be timely under standard two‑business‑day reporting rules.

Context

• Opaleye is an institutional 10% owner (investment manager/portfolio manager capacity), not an executive or director — institutional purchases are informative but different from insider executive trading.
• These were open‑market or private purchases (P) rather than option exercises, gifts, or awards.
• The filing’s disclaimer (F6) and the notes about holdings (F1–F2) mean Opaleye reports these as securities it manages or oversees; it disclaims direct beneficial ownership beyond its pecuniary interest.

If you want, I can check the full Form 4 for shares owned after the trades or pull the issuer’s most recent SEC filings to see overall insider ownership changes.