Short Interest in Alzamend Neuro, Inc. (NASDAQ:ALZN) Expands By 196.6%

Alzamend Neuro, Inc. (NASDAQ:ALZN) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 358,600 shares, a growth of 196.6% from the March 15th total of 120,900 shares. Based on an average daily trading volume, of 365,200 shares, the short-interest ratio is presently 1.0 days. Approximately 5.7% of the company’s stock are sold short.

Alzamend Neuro Stock Performance

Shares of NASDAQ ALZN opened at $0.76 on Wednesday. Alzamend Neuro has a 12-month low of $0.64 and a 12-month high of $15.06. The firm has a 50 day moving average of $0.91 and a 200 day moving average of $1.20.

Alzamend Neuro (NASDAQ:ALZN) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. Analysts anticipate that Alzamend Neuro will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On Alzamend Neuro

A hedge fund recently bought a new stake in Alzamend Neuro stock. Citadel Advisors LLC acquired a new position in Alzamend Neuro, Inc. (NASDAQ:ALZN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,638 shares of the company’s stock, valued at approximately $36,000. Citadel Advisors LLC owned about 0.56% of Alzamend Neuro at the end of the most recent reporting period. 49.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.