Alzamend Neuro (NASDAQ:ALZN) Stock Price Up 3.6% – What’s Next?

Alzamend Neuro, Inc. (NASDAQ:ALZN)’s stock price traded up 3.6% during trading on Thursday . The company traded as high as $1.19 and last traded at $1.16. Approximately 371,030 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 304,163 shares. The stock had previously closed at $1.12.

Wall Street Analyst Weigh In

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

Alzamend Neuro Trading Up 3.6%

The firm’s 50-day moving average price is $1.15 and its 200-day moving average price is $1.59. The stock has a market capitalization of $4.41 million, a PE ratio of -0.54 and a beta of 0.14.

Insider Activity at Alzamend Neuro

In related news, Director Milton C. Ault III bought 108,388 shares of the company’s stock in a transaction dated Tuesday, April 14th. The stock was purchased at an average price of $1.00 per share, for a total transaction of $108,388.00. Following the acquisition, the director owned 116,648 shares in the company, valued at $116,648. This trade represents a 1,312.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.39% of the company’s stock.

Institutional Trading of Alzamend Neuro

A hedge fund recently raised its stake in Alzamend Neuro stock. DRW Securities LLC boosted its position in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) by 27.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission. 49.61% of the stock is owned by hedge funds and other institutional investors.

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.