Alzamend Neuro, Inc. (NASDAQ:ALZN) Sees Significant Decrease in Short Interest

Alzamend Neuro, Inc. (NASDAQ:ALZN) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 120,900 shares, a drop of 47.0% from the February 28th total of 228,200 shares. Based on an average daily volume of 376,700 shares, the days-to-cover ratio is presently 0.3 days. Approximately 1.9% of the shares of the company are sold short.

Alzamend Neuro Stock Performance

NASDAQ:ALZN opened at $1.10 on Friday. Alzamend Neuro has a 12 month low of $0.64 and a 12 month high of $15.06. The company’s 50-day moving average price is $0.99 and its two-hundred day moving average price is $1.29.

Alzamend Neuro (NASDAQ:ALZN) last announced its earnings results on Monday, March 10th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. As a group, analysts forecast that Alzamend Neuro will post -1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets dropped their price objective on shares of Alzamend Neuro from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 17th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Alzamend Neuro stock. Geode Capital Management LLC acquired a new stake in Alzamend Neuro, Inc. (NASDAQ:ALZN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 33,540 shares of the company’s stock, valued at approximately $39,000. Geode Capital Management LLC owned about 0.62% of Alzamend Neuro as of its most recent filing with the Securities and Exchange Commission (SEC). 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.