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

Alzamend Neuro, Inc. (NASDAQ:ALZN) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 144,300 shares, a drop of 35.1% from the October 31st total of 222,500 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average trading volume of 296,000 shares, the short-interest ratio is presently 0.5 days.

Analyst Ratings Changes

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

Institutional Trading of Alzamend Neuro

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

Alzamend Neuro Stock Performance

Shares of NASDAQ ALZN traded up $0.04 during trading hours on Friday, hitting $1.30. 55,817 shares of the company traded hands, compared to its average volume of 502,214. The company’s 50 day moving average price is $1.55 and its 200 day moving average price is $3.08. Alzamend Neuro has a 12 month low of $1.25 and a 12 month high of $15.06.

Alzamend Neuro (NASDAQ:ALZN) last posted its quarterly earnings data on Wednesday, September 11th. The company reported ($1.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.38) by $1.13. Sell-side 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.