Alzamend Neuro, Inc. (NASDAQ:ALZN) Sees Significant Drop in Short Interest

Alzamend Neuro, Inc. (NASDAQ:ALZN) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 34,177 shares, a drop of 69.4% from the September 30th total of 111,547 shares. Based on an average trading volume of 49,912 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.7% of the company’s shares are sold short.

Alzamend Neuro Price Performance

Shares of ALZN stock opened at $1.13 on Wednesday. The stock has a market cap of $5.45 million, a P/E ratio of -0.49 and a beta of 0.27. The stock has a fifty day moving average price of $1.56 and a 200 day moving average price of $1.50. Alzamend Neuro has a one year low of $0.84 and a one year high of $2.68.

Alzamend Neuro (NASDAQ:ALZN) last posted its quarterly earnings data on Thursday, September 10th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.12). Equities research analysts anticipate that Alzamend Neuro will post -1.05 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Alzamend Neuro from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, August 31st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.00.

Hedge Funds Weigh In On Alzamend Neuro

A hedge fund recently raised its position in Alzamend Neuro stock. Kingsbury Capital Investment Advisors LLC raised its stake in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 134.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,329,100 shares of the company’s stock after acquiring an additional 762,367 shares during the quarter. Alzamend Neuro makes up approximately 1.3% of Kingsbury Capital Investment Advisors LLC’s investment portfolio, making the stock its 18th largest position. Kingsbury Capital Investment Advisors LLC owned 27.75% of Alzamend Neuro worth $1,595,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 49.61% of the company’s stock.

Alzamend Neuro Company Profile

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.