Alzamend Neuro, Inc. (NASDAQ:ALZN) Short Interest Update

Alzamend Neuro, Inc. (NASDAQ:ALZN) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 326,187 shares, a growth of 32.6% from the March 15th total of 246,072 shares. Currently, 8.7% of the company’s shares are short sold. Based on an average trading volume of 393,998 shares, the short-interest ratio is currently 0.8 days.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALZN. Ascendiant Capital Markets reduced their price target on shares of Alzamend Neuro from $42.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Alzamend Neuro in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alzamend Neuro presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Institutional Investors Weigh In On Alzamend Neuro

A hedge fund recently raised its stake in Alzamend Neuro stock. Geode Capital Management LLC grew its position in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 33.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,506 shares of the company’s stock after purchasing an additional 6,928 shares during the quarter. Geode Capital Management LLC owned approximately 0.72% of Alzamend Neuro worth $50,000 at the end of the most recent reporting period. 49.61% of the stock is owned by institutional investors and hedge funds.

Alzamend Neuro Stock Down 1.9%

Alzamend Neuro stock opened at $1.02 on Thursday. The firm has a market cap of $3.88 million, a PE ratio of -0.47 and a beta of -0.05. Alzamend Neuro has a 52-week low of $0.84 and a 52-week high of $8.22. The company’s 50 day moving average is $1.66 and its two-hundred day moving average is $2.04.

Alzamend Neuro (NASDAQ:ALZN) last released its earnings results on Wednesday, March 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.05). On average, equities research analysts anticipate that Alzamend Neuro will post -1.68 earnings per share for the current fiscal year.

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.