Insider Selling: Alzamend Neuro (NASDAQ:ALZN) Director Sells $49,439.54 in Stock

Alzamend Neuro, Inc. (NASDAQ:ALZN) Director Milton Ault III sold 20,686 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $2.39, for a total transaction of $49,439.54. Following the completion of the sale, the director owned 74,163 shares of the company’s stock, valued at $177,249.57. This trade represents a 21.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Alzamend Neuro Price Performance

Shares of NASDAQ:ALZN opened at $2.53 on Monday. Alzamend Neuro, Inc. has a 52-week low of $2.06 and a 52-week high of $17.10. The stock has a 50 day moving average price of $2.40 and a 200-day moving average price of $4.05.

Institutional Investors Weigh In On Alzamend Neuro

A hedge fund recently bought a new stake in Alzamend Neuro stock. Citadel Advisors LLC purchased a new position in Alzamend Neuro, Inc. (NASDAQ:ALZN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,638 shares of the company’s stock, valued at approximately $36,000. Citadel Advisors LLC owned approximately 0.56% of Alzamend Neuro as of its most recent SEC filing. 49.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALZN has been the subject of several recent research reports. Ascendiant Capital Markets lowered their price objective on Alzamend Neuro from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Wall Street Zen cut shares of Alzamend Neuro from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings restated a “sell (e)” rating on shares of Alzamend Neuro in a report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.00.

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.