Alzamend Neuro, Inc. (NASDAQ:ALZN) Sees Large Drop in Short Interest

Alzamend Neuro, Inc. (NASDAQ:ALZN) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 34,177 shares, a decline of 69.4% from the September 30th total of 111,547 shares. Based on an average daily trading volume, of 49,912 shares, the short-interest ratio is currently 0.7 days. Approximately 0.7% of the shares of the company are sold short.

Alzamend Neuro Stock Up 4.8%

Shares of ALZN stock traded up $0.06 on Friday, hitting $1.28. The stock had a trading volume of 8,009 shares, compared to its average volume of 116,997. The business has a 50 day moving average price of $1.54 and a 200 day moving average price of $1.49. Alzamend Neuro has a one year low of $0.84 and a one year high of $2.68. The company has a market cap of $6.18 million, a PE ratio of -0.55 and a beta of 0.27.

Alzamend Neuro (NASDAQ:ALZN) last announced its earnings results on Thursday, September 10th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.12). Equities research analysts expect that Alzamend Neuro will post -1.05 EPS for the current year.

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 report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Alzamend Neuro currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Institutional Trading of Alzamend Neuro

An institutional investor recently raised its position in Alzamend Neuro stock. Kingsbury Capital Investment Advisors LLC lifted its stake in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 134.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,329,100 shares of the company’s stock after acquiring an additional 762,367 shares during the quarter. Alzamend Neuro accounts for 1.3% of Kingsbury Capital Investment Advisors LLC’s investment portfolio, making the stock its 18th largest position. Kingsbury Capital Investment Advisors LLC owned 27.75% of Alzamend Neuro worth $1,595,000 as of its most recent filing with the SEC. 49.61% of the stock is currently owned by institutional investors.

About Alzamend Neuro

Alzamend Neuro, Inc (NASDAQ: ALZN) is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative and neuropsychiatric diseases, with an emphasis on Alzheimer’s disease and related dementia. The company’s research is intended to address cognitive decline and other disease-related symptoms through therapies designed to affect biological processes associated with brain function.

Alzamend Neuro’s lead development program is AL001, an investigational lithium-based product candidate being studied for potential use in the treatment of Alzheimer’s disease.