Short Interest in Alzamend Neuro, Inc. (NASDAQ:ALZN) Drops By 35.1%

Alzamend Neuro, Inc. (NASDAQ:ALZN) saw a significant decline in short interest in November. As of November 15th, there was short interest totalling 144,300 shares, a decline of 35.1% from the October 31st total of 222,500 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average trading volume of 296,000 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On Alzamend Neuro

A hedge fund recently bought a new stake in Alzamend Neuro stock. Virtu Financial LLC purchased a new position in Alzamend Neuro, Inc. (NASDAQ:ALZN) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 26,482 shares of the company’s stock, valued at approximately $26,000. Virtu Financial LLC owned approximately 0.38% of Alzamend Neuro as of its most recent SEC filing. 49.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets reduced their target price on shares of Alzamend Neuro from $50.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, November 11th.

Alzamend Neuro Price Performance

Shares of ALZN stock traded up $0.04 during mid-day trading on Friday, reaching $1.30. The stock had a trading volume of 55,817 shares, compared to its average volume of 502,214. The stock’s 50-day moving average price is $1.55 and its two-hundred day moving average price is $3.08. Alzamend Neuro has a 52-week low of $1.25 and a 52-week high of $15.06.

Alzamend Neuro (NASDAQ:ALZN) last posted its quarterly earnings data on Wednesday, September 11th. The company reported ($1.25) EPS for the quarter, topping the consensus estimate of ($2.38) by $1.13. As a group, equities analysts predict that Alzamend Neuro will post -14.27 earnings per share for the current year.

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.