Short Interest in Alzamend Neuro, Inc. (NASDAQ:ALZN) Expands By 108.4%

Alzamend Neuro, Inc. (NASDAQ:ALZN) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 328,289 shares, an increase of 108.4% from the June 30th total of 157,517 shares. Approximately 8.7% of the shares of the company are sold short. Based on an average trading volume of 314,073 shares, the days-to-cover ratio is presently 1.0 days.

Alzamend Neuro Price Performance

ALZN stock opened at $1.34 on Thursday. Alzamend Neuro has a 1 year low of $0.84 and a 1 year high of $2.68. The company has a market cap of $6.42 million, a P/E ratio of -0.46 and a beta of 0.14. The stock’s fifty day moving average price is $1.21 and its 200-day moving average price is $1.48.

Alzamend Neuro (NASDAQ:ALZN) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.07). As a group, analysts expect that Alzamend Neuro will post -2.6 earnings per share for the current year.

Institutional Investors Weigh In On Alzamend Neuro

A hedge fund recently raised its stake in Alzamend Neuro stock. DRW Securities LLC increased its holdings in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 27.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,319 shares of the company’s stock after buying an additional 25,074 shares during the quarter. DRW Securities LLC owned 3.06% of Alzamend Neuro worth $212,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 49.61% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Alzamend Neuro from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.00.

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.