Alzamend Neuro (NASDAQ:ALZN) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Alzamend Neuro (NASDAQ:ALZN) issued its quarterly earnings results on Thursday. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.12), FiscalAI reports.

Alzamend Neuro Trading Up 1.2%

NASDAQ ALZN opened at $1.70 on Friday. The stock has a 50-day simple moving average of $1.43 and a 200 day simple moving average of $1.37. The company has a market capitalization of $8.21 million, a PE ratio of -0.59 and a beta of 0.23. Alzamend Neuro has a 12 month low of $0.84 and a 12 month high of $2.68.

Hedge Funds Weigh In On Alzamend Neuro

An institutional investor recently raised its position in Alzamend Neuro stock. DRW Securities LLC grew its stake in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 27.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,319 shares of the company’s stock after acquiring an additional 25,074 shares during the quarter. DRW Securities LLC owned 3.06% of Alzamend Neuro worth $212,000 at the end of the most recent quarter. 49.61% of the stock is owned by institutional investors and hedge funds.

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 note on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Alzamend Neuro presently has an average rating of “Hold” and a consensus target price of $28.00.

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.