Alzamend Neuro (NASDAQ:ALZN) Stock Price Down 0.5% – Here’s Why

Alzamend Neuro, Inc. (NASDAQ:ALZN)’s share price traded down 0.5% on Monday . The stock traded as low as $1.92 and last traded at $1.97. 64,835 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 84,013 shares. The stock had previously closed at $1.98.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Ascendiant Capital Markets dropped their price target on Alzamend Neuro from $42.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Alzamend Neuro in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.00.

Alzamend Neuro Trading Down 0.5%

The company has a 50 day simple moving average of $2.14 and a 200 day simple moving average of $2.30. The stock has a market capitalization of $7.49 million, a PE ratio of -0.60 and a beta of -0.24.

Alzamend Neuro (NASDAQ:ALZN) last released its earnings results on Tuesday, December 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.53. On average, equities research analysts predict that Alzamend Neuro, Inc. will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Alzamend Neuro stock. Geode Capital Management LLC boosted its position in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 33.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,506 shares of the company’s stock after purchasing an additional 6,928 shares during the period. Geode Capital Management LLC owned about 0.72% of Alzamend Neuro worth $50,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 49.61% 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.