Alzamend Neuro (NASDAQ:ALZN) Trading Up 18.8% – Still a Buy?

Shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) were up 18.8% during mid-day trading on Wednesday . The stock traded as high as $1.25 and last traded at $1.20. Approximately 175,266 shares changed hands during mid-day trading, an increase of 339% from the average daily volume of 39,899 shares. The stock had previously closed at $1.01.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Alzamend Neuro from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Alzamend Neuro Trading Down 3.4%

The firm’s 50 day simple moving average is $1.25 and its 200-day simple moving average is $1.82. The stock has a market capitalization of $4.29 million, a price-to-earnings ratio of -0.52 and a beta of 0.11.

Alzamend Neuro (NASDAQ:ALZN) last released its quarterly earnings data on Wednesday, March 11th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.05). As a group, equities research analysts predict that Alzamend Neuro, Inc. will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Alzamend Neuro

In other news, Director Milton C. Ault III acquired 108,388 shares of the stock in a transaction dated Tuesday, April 14th. The shares were bought at an average cost of $1.00 per share, for a total transaction of $108,388.00. Following the purchase, the director directly owned 116,648 shares of the company’s stock, valued at approximately $116,648. This trade represents a 1,312.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Alzamend Neuro stock. DRW Securities LLC lifted its position in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) by 27.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,319 shares of the company’s stock after purchasing an additional 25,074 shares during the period. DRW Securities LLC owned 3.06% of Alzamend Neuro worth $212,000 at the end of the most recent quarter. Institutional investors own 49.61% of the company’s stock.

About Alzamend Neuro

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.