Alzamend Neuro, Inc. (NASDAQ:ALZN – Get Rating) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 1,690,000 shares, a growth of 79.0% from the May 15th total of 943,900 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is presently 1.4 days.
In other news, major shareholder Milton C. Ault III bought 50,000 shares of the stock in a transaction that occurred on Monday, April 11th. The shares were acquired at an average cost of $1.13 per share, for a total transaction of $56,500.00. Following the completion of the acquisition, the insider now owns 150,000 shares in the company, valued at $169,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Milton C. Ault III bought 2,666,667 shares of the stock in a transaction that occurred on Tuesday, April 26th. The shares were purchased at an average price of $1.50 per share, for a total transaction of $4,000,000.50. Following the completion of the acquisition, the insider now owns 9,666,667 shares of the company’s stock, valued at approximately $14,500,000.50. The disclosure for this purchase can be found here. Insiders bought 3,076,667 shares of company stock worth $4,421,662 over the last quarter.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC acquired a new position in shares of Alzamend Neuro in the fourth quarter valued at $26,000. Bank of America Corp DE acquired a new position in shares of Alzamend Neuro in the first quarter valued at $35,000. Warberg Asset Management LLC acquired a new position in shares of Alzamend Neuro in the third quarter valued at $43,000. Virtu Financial LLC acquired a new position in shares of Alzamend Neuro in the fourth quarter valued at $44,000. Finally, Geode Capital Management LLC acquired a new position in shares of Alzamend Neuro in the fourth quarter valued at $56,000. Institutional investors and hedge funds own 0.95% of the company’s stock.
Alzamend Neuro (NASDAQ:ALZN – Get Rating) last issued its earnings results on Tuesday, March 15th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). On average, analysts predict that Alzamend Neuro will post -0.12 earnings per share for the current year.
Alzamend Neuro Company Profile (Get Rating)
Alzamend Neuro, Inc, an early clinical-stage biopharmaceutical company, focuses on developing various products for the treatment of neurodegenerative diseases and psychiatric disorders. Its pipeline includes AL001, an ionic cocrystal technology delivering a therapeutic combination of lithium, proline, and salicylate for the treatment of Alzheimer's and other neurodegenerative diseases, and psychiatric disorders; and AL002, 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.
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