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

Alzamend Neuro, Inc. (NASDAQ:ALZN) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 34,177 shares, a decline of 69.4% from the September 30th total of 111,547 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average trading volume of 49,912 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Alzamend Neuro stock. Kingsbury Capital Investment Advisors LLC lifted its position in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 134.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,329,100 shares of the company’s stock after purchasing an additional 762,367 shares during the quarter. Alzamend Neuro comprises approximately 1.3% of Kingsbury Capital Investment Advisors LLC’s portfolio, 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 quarter. 49.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Alzamend Neuro Stock Down 0.9%

Shares of ALZN opened at $1.13 on Wednesday. Alzamend Neuro has a twelve month low of $0.84 and a twelve month high of $2.68. The stock has a market cap of $5.45 million, a PE ratio of -0.49 and a beta of 0.27. The business’s 50-day moving average price is $1.56 and its 200-day moving average price is $1.50.

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

About Alzamend Neuro

Alzamend Neuro, Inc (NASDAQ: ALZN) is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative and neuropsychiatric diseases, with an emphasis on Alzheimer’s disease and related dementia. The company’s research is intended to address cognitive decline and other disease-related symptoms through therapies designed to affect biological processes associated with brain function.

Alzamend Neuro’s lead development program is AL001, an investigational lithium-based product candidate being studied for potential use in the treatment of Alzheimer’s disease.