Alzamend Neuro (NASDAQ:ALZN) Shares Up 1.7% – Here’s Why

Alzamend Neuro, Inc. (NASDAQ:ALZN) shot up 1.7% during trading on Thursday . The company traded as high as $2.47 and last traded at $2.36. 72,444 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 161,889 shares. The stock had previously closed at $2.32.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALZN. Ascendiant Capital Markets dropped their target price on shares of Alzamend Neuro from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alzamend Neuro in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Alzamend Neuro from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.00.

Alzamend Neuro Stock Up 1.7%

The firm’s 50-day moving average price is $2.40 and its two-hundred day moving average price is $3.69.

Insider Activity at Alzamend Neuro

In related news, Director Milton C. Ault III sold 20,397 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $2.32, for a total transaction of $47,321.04. Following the completion of the sale, the director directly owned 8,260 shares in the company, valued at approximately $19,163.20. This trade represents a 71.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 904,632 shares of company stock worth $2,211,980 in the last ninety days. Company insiders own 30.21% of the company’s stock.

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.