Alzamend Neuro, Inc. (NASDAQ:ALZN) Sees Large Decrease in Short Interest

Alzamend Neuro, Inc. (NASDAQ:ALZN) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 144,300 shares, a drop of 35.1% from the October 31st total of 222,500 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 296,000 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Alzamend Neuro

A hedge fund recently bought a new stake in Alzamend Neuro stock. Virtu Financial LLC bought a new stake in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 26,482 shares of the company’s stock, valued at approximately $26,000. Virtu Financial LLC owned about 0.38% of Alzamend Neuro at the end of the most recent quarter. 49.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets cut their price objective on Alzamend Neuro from $50.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, November 11th.

Alzamend Neuro Stock Performance

NASDAQ ALZN opened at $1.30 on Friday. Alzamend Neuro has a 52-week low of $1.25 and a 52-week high of $15.06. The company has a 50-day simple moving average of $1.54 and a 200 day simple moving average of $3.05.

Alzamend Neuro (NASDAQ:ALZN) last announced its quarterly earnings results on Wednesday, September 11th. The company reported ($1.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.38) by $1.13. As a group, analysts anticipate that Alzamend Neuro will post -14.27 earnings per share for the current year.

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.