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

Alzamend Neuro, Inc. (NASDAQ:ALZN) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 78,800 shares, a growth of 6.1% from the January 15th total of 74,300 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 130,700 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Alzamend Neuro

A hedge fund recently bought a new stake in Alzamend Neuro stock. Geode Capital Management LLC acquired a new stake in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,540 shares of the company’s stock, valued at approximately $39,000. Geode Capital Management LLC owned about 0.62% of Alzamend Neuro at the end of the most recent reporting period. 49.61% of the stock is currently owned by institutional investors and hedge funds.

Alzamend Neuro Price Performance

NASDAQ ALZN traded up $0.01 on Friday, hitting $1.09. The stock had a trading volume of 40,875 shares, compared to its average volume of 69,567. Alzamend Neuro has a 52-week low of $1.05 and a 52-week high of $15.06. The business’s fifty day moving average price is $1.17 and its 200 day moving average price is $1.66.

Alzamend Neuro (NASDAQ:ALZN) last announced its quarterly earnings data on Wednesday, December 11th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.38) by $1.98. Analysts forecast that Alzamend Neuro will post -1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets cut their price target on shares of Alzamend Neuro from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, December 16th.

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.