Alzamend Neuro (NASDAQ:ALZN) Issues Quarterly Earnings Results

Alzamend Neuro (NASDAQ:ALZN) announced its earnings results on Wednesday. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.05), reports.

Alzamend Neuro Trading Up 1.9%

ALZN opened at $2.18 on Thursday. The company has a market capitalization of $8.29 million, a PE ratio of -0.66 and a beta of -0.25. Alzamend Neuro has a 1-year low of $1.58 and a 1-year high of $10.17. The firm’s 50 day simple moving average is $2.07 and its two-hundred day simple moving average is $2.22.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALZN. Weiss Ratings reissued a “sell (e+)” rating on shares of Alzamend Neuro in a research report on Monday, December 29th. Ascendiant Capital Markets decreased their target price on shares of Alzamend Neuro from $42.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. 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.com, Alzamend Neuro presently has a consensus rating of “Hold” and an average price target of $28.00.

Hedge Funds Weigh In On Alzamend Neuro

An institutional investor recently raised its position in Alzamend Neuro stock. DRW Securities LLC increased its position in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 27.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,319 shares of the company’s stock after purchasing an additional 25,074 shares during the quarter. DRW Securities LLC owned approximately 3.06% of Alzamend Neuro worth $212,000 as of its most recent SEC filing. 49.61% of the stock is currently owned by hedge funds and other institutional investors.

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.