Alzamend Neuro, Inc. (NASDAQ:ALZN) Sees Significant Increase in Short Interest

Alzamend Neuro, Inc. (NASDAQ:ALZN) was the recipient of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 263,391 shares, a growth of 51.2% from the January 29th total of 174,243 shares. Based on an average daily trading volume, of 72,785 shares, the short-interest ratio is presently 3.6 days. Approximately 9.9% of the shares of the company are short sold. Approximately 9.9% of the shares of the company are short sold. Based on an average daily trading volume, of 72,785 shares, the short-interest ratio is presently 3.6 days.

Wall Street Analyst Weigh In

ALZN has been the subject of several research analyst reports. Ascendiant Capital Markets decreased their target price on Alzamend Neuro from $42.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Alzamend Neuro in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alzamend Neuro presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Alzamend Neuro Stock Performance

Shares of ALZN opened at $2.01 on Monday. Alzamend Neuro has a fifty-two week low of $1.58 and a fifty-two week high of $10.17. The business has a 50-day moving average of $2.07 and a 200 day moving average of $2.24. The firm has a market cap of $7.64 million, a P/E ratio of -0.61 and a beta of -0.25.

Alzamend Neuro (NASDAQ:ALZN) last released its quarterly earnings data on Tuesday, December 9th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.53. As a group, research analysts predict that Alzamend Neuro will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Alzamend Neuro

A hedge fund recently raised its stake in Alzamend Neuro stock. Geode Capital Management LLC lifted its stake in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 33.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,506 shares of the company’s stock after buying an additional 6,928 shares during the period. Geode Capital Management LLC owned approximately 0.72% of Alzamend Neuro worth $50,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 49.61% of the company’s stock.

Alzamend Neuro Company Profile

Alzamend Neuro, Inc, an early clinical-stage biopharmaceutical company, focuses on developing various products for the treatment of neurodegenerative and psychiatric disorders. The company's pipeline includes AL001, which delivers a therapeutic combination of lithium, proline, and salicylate for the treatment of Alzheimer's, bi-polar disorder, post-traumatic stress disorder, major depressive disorder, other neurodegenerative diseases, and psychiatric disorders; and ALZN002 stage, which uses a method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine to restore the ability of a patient's immunological system to combat Alzheimer's disease.