Milton Ault III Buys 108,388 Shares of Alzamend Neuro (NASDAQ:ALZN) Stock

Alzamend Neuro, Inc. (NASDAQ:ALZN) Director Milton Ault III purchased 108,388 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was bought at an average price of $1.00 per share, with a total value of $108,388.00. Following the completion of the purchase, the director owned 116,648 shares of the company’s stock, valued at approximately $116,648. This represents a 1,312.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Alzamend Neuro Stock Up 12.0%

ALZN stock opened at $1.12 on Friday. The business has a 50 day moving average price of $1.63 and a two-hundred day moving average price of $2.03. The company has a market cap of $4.26 million, a price-to-earnings ratio of -0.52 and a beta of -0.05. Alzamend Neuro, Inc. has a twelve month low of $0.84 and a twelve month high of $8.22.

Alzamend Neuro (NASDAQ:ALZN) last posted its quarterly earnings results on Wednesday, March 11th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.05). On average, equities research analysts anticipate that Alzamend Neuro, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Trading of Alzamend Neuro

A hedge fund recently raised its stake in Alzamend Neuro stock. Geode Capital Management LLC boosted its position in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 33.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,506 shares of the company’s stock after purchasing an additional 6,928 shares during the period. Geode Capital Management LLC owned 0.72% of Alzamend Neuro worth $50,000 at the end of the most recent quarter. 49.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ALZN. Weiss Ratings restated a “sell (e+)” rating on shares of Alzamend Neuro in a research note on Monday, December 29th. Ascendiant Capital Markets reduced their target price on Alzamend Neuro from $42.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.