Short Interest in Alzamend Neuro, Inc. (NASDAQ:ALZN) Expands By 51.2%

Alzamend Neuro, Inc. (NASDAQ:ALZN) saw a significant increase in short interest in February. As of February 13th, there was short interest totaling 263,391 shares, an increase of 51.2% from the January 29th total of 174,243 shares. Approximately 9.9% of the shares of the stock are short sold. Based on an average daily volume of 72,785 shares, the days-to-cover ratio is presently 3.6 days. Based on an average daily volume of 72,785 shares, the days-to-cover ratio is presently 3.6 days. Approximately 9.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Ascendiant Capital Markets cut their price target on Alzamend Neuro from $42.00 to $28.00 and set a “buy” rating for the company 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 research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.00.

Institutional Trading of Alzamend Neuro

A hedge fund recently raised its stake in Alzamend Neuro stock. DRW Securities LLC increased its stake in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 27.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,319 shares of the company’s stock after purchasing an additional 25,074 shares during the period. DRW Securities LLC owned 3.06% of Alzamend Neuro worth $212,000 at the end of the most recent reporting period. Institutional investors own 49.61% of the company’s stock.

Alzamend Neuro Stock Down 3.4%

Shares of Alzamend Neuro stock opened at $2.01 on Friday. The firm has a market cap of $7.64 million, a PE ratio of -0.61 and a beta of -0.24. Alzamend Neuro has a fifty-two week low of $1.58 and a fifty-two week high of $10.17. The business’s fifty day moving average is $2.07 and its two-hundred day moving average is $2.24.

Alzamend Neuro (NASDAQ:ALZN) last announced its quarterly earnings data on Tuesday, December 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.53. Equities research analysts anticipate that Alzamend Neuro will post -1.68 EPS for the current year.

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.