Alzamend Neuro (NASDAQ:ALZN) Issues Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Alzamend Neuro (NASDAQ:ALZN) released its quarterly earnings results on Wednesday. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.07), Zacks reports.

Alzamend Neuro Stock Performance

Shares of ALZN traded up $0.03 during trading hours on Wednesday, hitting $1.35. 70,780 shares of the stock were exchanged, compared to its average volume of 138,688. Alzamend Neuro has a 12-month low of $0.84 and a 12-month high of $3.14. The company has a market cap of $5.14 million, a price-to-earnings ratio of -0.62 and a beta of 0.14. The stock’s 50-day moving average price is $1.18 and its two-hundred day moving average price is $1.52.

Institutional Trading of Alzamend Neuro

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Alzamend Neuro from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday. One 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, the stock has an average rating of “Hold” and an average target price of $28.00.

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.