Alzamend Neuro (NASDAQ:ALZN) Shares Cross Above 200-Day Moving Average – Here’s Why

Alzamend Neuro, Inc. (NASDAQ:ALZN)’s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $1.47 and traded as high as $1.6197. Alzamend Neuro shares last traded at $1.53, with a volume of 72,105 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Alzamend Neuro from a “sell (e)” rating to a “sell (e+)” rating in a research note 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $28.00.

Alzamend Neuro Trading Down 9.0%

The business’s 50-day simple moving average is $1.52 and its 200 day simple moving average is $1.47. The company has a market capitalization of $6.81 million, a P/E ratio of -0.61 and a beta of 0.41.

Alzamend Neuro (NASDAQ:ALZN) last posted its quarterly earnings results on Thursday, September 10th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.12). As a group, sell-side analysts predict that Alzamend Neuro, Inc. will post -1.05 EPS for the current fiscal year.

Institutional Trading of Alzamend Neuro

An institutional investor recently raised its position in Alzamend Neuro stock. Kingsbury Capital Investment Advisors LLC increased its stake in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 134.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,329,100 shares of the company’s stock after purchasing an additional 762,367 shares during the period. Alzamend Neuro makes up 1.3% of Kingsbury Capital Investment Advisors LLC’s holdings, making the stock its 18th largest position. Kingsbury Capital Investment Advisors LLC owned approximately 27.75% of Alzamend Neuro worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 49.61% of the company’s stock.

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.