Shares of Alzamend Neuro, Inc. (NASDAQ:ALZN – Get Free Report) were down 24% during trading on Thursday. The stock traded as low as $1.26 and last traded at $1.3150. 150,325 shares changed hands during mid-day trading, an increase of 44% from the average session volume of 104,071 shares. The stock had previously closed at $1.73.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised Alzamend Neuro from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, August 31st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Alzamend Neuro has a consensus rating of “Hold” and a consensus price target of $28.00.
Check Out Our Latest Report on ALZN
Alzamend Neuro Stock Up 4.2%
Alzamend Neuro (NASDAQ:ALZN – Get Free Report) last released its quarterly earnings results on Thursday, September 10th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.12). As a group, equities analysts forecast that Alzamend Neuro, Inc. will post -1.05 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Alzamend Neuro
An institutional investor recently raised its stake in Alzamend Neuro stock. Kingsbury Capital Investment Advisors LLC boosted its position in Alzamend Neuro, Inc. (NASDAQ:ALZN – Free Report) by 134.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,329,100 shares of the company’s stock after buying an additional 762,367 shares during the quarter. Alzamend Neuro makes up about 1.3% of Kingsbury Capital Investment Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Kingsbury Capital Investment Advisors LLC owned approximately 27.75% of Alzamend Neuro worth $1,595,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 49.61% of the company’s stock.
About Alzamend Neuro
Alzamend Neuro, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer’s disease and other neurodegenerative or neuropsychiatric conditions. The company’s research is centered on therapies intended to address disease-related biological processes and improve the safety, tolerability, or delivery of existing treatment approaches.
Alzamend’s lead program, AL001, is an investigational lithium-based therapy designed as a proprietary ionic co-crystal of lithium salicylate and L-proline.
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