Alzamend Neuro (NASDAQ:ALZN) Issues Earnings Results

Alzamend Neuro (NASDAQ:ALZN) announced its quarterly earnings data on Wednesday. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.05), reports.

Alzamend Neuro Stock Performance

Shares of NASDAQ ALZN opened at $2.18 on Thursday. Alzamend Neuro has a fifty-two week low of $1.58 and a fifty-two week high of $10.17. The firm’s 50-day simple moving average is $2.07 and its 200 day simple moving average is $2.22. The stock has a market cap of $8.29 million, a price-to-earnings ratio of -0.66 and a beta of -0.25.

Institutional Investors Weigh In On Alzamend Neuro

A hedge fund recently raised its stake in Alzamend Neuro stock. DRW Securities LLC raised its position in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) by 27.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 116,319 shares of the company’s stock after acquiring an additional 25,074 shares during the quarter. DRW Securities LLC owned approximately 3.06% of Alzamend Neuro worth $212,000 at the end of the most recent quarter. 49.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ALZN shares. Ascendiant Capital Markets cut their price target on Alzamend Neuro from $42.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alzamend Neuro in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Alzamend Neuro has an average rating of “Hold” and a consensus price target of $28.00.

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.