Alzamend Neuro (NASDAQ:ALZN) Stock Jumps 0.9% – Here’s What Happened

Alzamend Neuro, Inc. (NASDAQ:ALZN) shares were up 0.9% during mid-day trading on Friday. The company traded as high as $1.1899 and last traded at $1.13. Approximately 29,088 shares changed hands during trading, a decline of 27% from the average session volume of 39,728 shares. The stock had previously closed at $1.12.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Alzamend Neuro from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, August 31st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Alzamend Neuro has an average rating of “Hold” and an average target price of $28.00.

Alzamend Neuro Stock Performance

The company’s 50-day moving average price is $1.58 and its two-hundred day moving average price is $1.32. The stock has a market cap of $5.45 million, a PE ratio of -0.49 and a beta of 0.27.

Alzamend Neuro (NASDAQ:ALZN) last posted its quarterly earnings data on Thursday, September 10th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.12). Equities research analysts forecast that Alzamend Neuro, Inc. will post -1.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alzamend Neuro

An institutional investor recently raised its stake in Alzamend Neuro stock. Kingsbury Capital Investment Advisors LLC lifted its position in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 134.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,329,100 shares of the company’s stock after purchasing an additional 762,367 shares during the quarter. Alzamend Neuro accounts for about 1.3% of Kingsbury Capital Investment Advisors LLC’s holdings, making the stock its 18th largest holding. Kingsbury Capital Investment Advisors LLC owned approximately 27.75% of Alzamend Neuro worth $1,595,000 at the end of the most recent reporting period. Institutional investors own 49.61% of the company’s stock.

Alzamend Neuro Company Profile

Alzamend Neuro, Inc (NASDAQ: ALZN) is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative and psychiatric disorders. Its primary research efforts have centered on Alzheimer’s disease and related conditions, with additional potential applications in disorders such as bipolar disorder, post-traumatic stress disorder and major depressive disorder.

The company’s lead product candidate, AL001, is based on a proprietary ionic cocrystal technology intended to deliver lithium in a formulation designed for the treatment of Alzheimer’s disease and other neurological conditions.