Short Interest in Alzamend Neuro, Inc. (NASDAQ:ALZN) Drops By 50.0%

Alzamend Neuro, Inc. (NASDAQ:ALZN) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totaling 104,700 shares, a decrease of 50.0% from the September 30th total of 209,600 shares. Based on an average daily trading volume, of 126,900 shares, the days-to-cover ratio is presently 0.8 days. Approximately 3.4% of the company’s shares are short sold. Approximately 3.4% of the company’s shares are short sold. Based on an average daily trading volume, of 126,900 shares, the days-to-cover ratio is presently 0.8 days.

Alzamend Neuro Stock Down 3.1%

ALZN opened at $2.53 on Friday. Alzamend Neuro has a 12 month low of $2.06 and a 12 month high of $15.21. The company has a fifty day simple moving average of $2.40 and a 200 day simple moving average of $3.21. The stock has a market cap of $7.94 million, a P/E ratio of -0.38 and a beta of -0.27.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ALZN shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Alzamend Neuro in a research note on Tuesday, October 14th. Ascendiant Capital Markets cut their price target on Alzamend Neuro from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. Finally, Wall Street Zen downgraded Alzamend Neuro from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alzamend Neuro currently has an average rating of “Hold” and a consensus price target of $42.00.

Insider Transactions at Alzamend Neuro

In other Alzamend Neuro news, Director Milton C. Ault III sold 101,394 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $2.44, for a total transaction of $247,401.36. Following the transaction, the director owned 28,657 shares of the company’s stock, valued at approximately $69,923.08. This represents a 77.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 661,233 shares of company stock worth $1,584,153. 30.21% of the stock is currently owned by corporate insiders.

Alzamend Neuro Company Profile

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.