Alzamend Neuro (NASDAQ:ALZN) Shares Up 0.9% – Time to Buy?

Alzamend Neuro, Inc. (NASDAQ:ALZN) was up 0.9% during trading on Friday. The stock traded as high as $1.1899 and last traded at $1.13. 29,088 shares were traded during trading, a decline of 27% from the average daily volume of 39,728 shares. The stock had previously closed at $1.12.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Alzamend Neuro from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, August 31st. One 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, the stock presently has a consensus rating of “Hold” and an average price target of $28.00.

Alzamend Neuro Stock Up 0.9%

The stock has a market cap of $5.46 million, a PE ratio of -0.49 and a beta of 0.27. The firm has a fifty day moving average of $1.58 and a 200 day moving average of $1.32.

Alzamend Neuro (NASDAQ:ALZN) last posted its quarterly earnings results on Thursday, September 10th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.12). On average, equities research analysts forecast that Alzamend Neuro, Inc. will post -1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Alzamend Neuro

An institutional investor recently raised its stake in Alzamend Neuro stock. Kingsbury Capital Investment Advisors LLC raised its stake in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 134.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,329,100 shares of the company’s stock after purchasing an additional 762,367 shares during the period. Alzamend Neuro accounts for about 1.3% of Kingsbury Capital Investment Advisors LLC’s holdings, making the stock its 18th biggest position. Kingsbury Capital Investment Advisors LLC owned 27.75% of Alzamend Neuro worth $1,595,000 as of its most recent filing with the Securities & Exchange Commission. 49.61% of the stock is owned by institutional investors and hedge funds.

Alzamend Neuro Company Profile

Alzamend Neuro, Inc (NASDAQ: ALZN) is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative and psychiatric disorders. Its primary research efforts have centered on Alzheimer’s disease and related conditions, with additional potential applications in disorders such as bipolar disorder, post-traumatic stress disorder and major depressive disorder.

The company’s lead product candidate, AL001, is based on a proprietary ionic cocrystal technology intended to deliver lithium in a formulation designed for the treatment of Alzheimer’s disease and other neurological conditions.