Alzamend Neuro (NASDAQ:ALZN) Shares Up 18.8% – Here’s What Happened

Alzamend Neuro, Inc. (NASDAQ:ALZN) shot up 18.8% during trading on Wednesday . The stock traded as high as $1.25 and last traded at $1.20. 175,266 shares changed hands during trading, an increase of 339% from the average session volume of 39,899 shares. The stock had previously closed at $1.01.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Alzamend Neuro from a “sell (e+)” rating to a “sell (e)” rating in a research report on Wednesday, May 6th. 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 company presently has a consensus rating of “Hold” and an average price target of $28.00.

Alzamend Neuro Trading Up 18.8%

The stock has a 50 day moving average of $1.27 and a 200-day moving average of $1.83. The company has a market capitalization of $4.56 million, a P/E ratio of -0.56 and a beta of 0.11.

Alzamend Neuro (NASDAQ:ALZN) last announced its quarterly earnings data on Wednesday, March 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.05). As a group, sell-side analysts expect that Alzamend Neuro, Inc. will post -2.58 EPS for the current fiscal year.

Insider Activity

In related news, Director Milton C. Ault III acquired 108,388 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was bought at an average cost of $1.00 per share, for a total transaction of $108,388.00. Following the purchase, the director owned 116,648 shares in the company, valued at $116,648. The trade was a 1,312.20% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Alzamend Neuro stock. Geode Capital Management LLC boosted its holdings in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 33.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,506 shares of the company’s stock after purchasing an additional 6,928 shares during the quarter. Geode Capital Management LLC owned approximately 0.72% of Alzamend Neuro worth $50,000 as of its most recent SEC filing. Institutional investors own 49.61% of the company’s stock.

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.