Alzamend Neuro, Inc. (NASDAQ:ALZN) Short Interest Up 52.5% in September

Alzamend Neuro, Inc. (NASDAQ:ALZN) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 209,600 shares, an increase of 52.5% from the September 15th total of 137,400 shares. Approximately 6.9% of the company’s stock are sold short. Based on an average daily trading volume, of 156,500 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily trading volume, of 156,500 shares, the days-to-cover ratio is currently 1.3 days. Approximately 6.9% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ALZN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Alzamend Neuro in a report on Tuesday, October 14th. Ascendiant Capital Markets reduced their price objective on shares of Alzamend Neuro from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Finally, Wall Street Zen lowered shares of Alzamend Neuro from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Alzamend Neuro currently has an average rating of “Hold” and an average target price of $42.00.

Alzamend Neuro Price Performance

Shares of Alzamend Neuro stock opened at $2.34 on Thursday. Alzamend Neuro has a 1 year low of $2.06 and a 1 year high of $15.30. The company’s fifty day moving average is $2.39 and its two-hundred day moving average is $3.51.

Insider Transactions at Alzamend Neuro

In other Alzamend Neuro news, Director Milton C. Ault III sold 20,397 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $2.32, for a total transaction of $47,321.04. Following the sale, the director directly owned 8,260 shares in the company, valued at $19,163.20. This represents a 71.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 835,495 shares of company stock worth $2,008,218. 30.21% of the stock is owned by corporate insiders.

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.