Short Interest in Alzamend Neuro, Inc. (NASDAQ:ALZN) Rises By 108.4%

Alzamend Neuro, Inc. (NASDAQ:ALZN) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 328,289 shares, an increase of 108.4% from the June 30th total of 157,517 shares. Based on an average daily volume of 314,073 shares, the days-to-cover ratio is presently 1.0 days. Currently, 8.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Alzamend Neuro from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Alzamend Neuro currently has an average rating of “Hold” and an average target price of $28.00.

Alzamend Neuro Trading Up 0.7%

NASDAQ ALZN opened at $1.35 on Friday. Alzamend Neuro has a 12 month low of $0.84 and a 12 month high of $2.68. The stock has a market cap of $6.47 million, a price-to-earnings ratio of -0.47 and a beta of 0.14. The company’s 50 day moving average is $1.21 and its two-hundred day moving average is $1.48.

Alzamend Neuro (NASDAQ:ALZN) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.07). Sell-side analysts forecast that Alzamend Neuro will post -2.6 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Alzamend Neuro stock. Geode Capital Management LLC boosted its holdings in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 33.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 27,506 shares of the company’s stock after buying an additional 6,928 shares during the period. Geode Capital Management LLC owned 0.72% of Alzamend Neuro worth $50,000 as of its most recent SEC filing. 49.61% of the stock is currently owned by institutional investors.

Alzamend Neuro Company Profile

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.