Alzamend Neuro, Inc. (NASDAQ:ALZN) Short Interest Down 18.6% in May

Alzamend Neuro, Inc. (NASDAQ:ALZN) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 145,200 shares, a decrease of 18.6% from the April 30th total of 178,300 shares. Approximately 18.9% of the shares of the company are sold short. Based on an average daily volume of 123,900 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Alzamend Neuro stock. Geode Capital Management LLC purchased a new stake in Alzamend Neuro, Inc. (NASDAQ:ALZN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 33,540 shares of the company’s stock, valued at approximately $39,000. Geode Capital Management LLC owned 0.62% of Alzamend Neuro as of its most recent SEC filing. Institutional investors and hedge funds own 49.61% of the company’s stock.

Alzamend Neuro Stock Down 8.6%

Shares of ALZN stock opened at $3.50 on Tuesday. The firm’s 50-day moving average is $5.98 and its 200-day moving average is $8.51. Alzamend Neuro has a 52-week low of $3.06 and a 52-week high of $135.54.

Alzamend Neuro (NASDAQ:ALZN) last issued its earnings results on Monday, March 10th. The company reported ($1.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.61) by $0.90. Sell-side analysts forecast that Alzamend Neuro will post -1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALZN has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Alzamend Neuro to a “sell” rating in a report on Saturday. Ascendiant Capital Markets dropped their target price on shares of Alzamend Neuro from $288.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, March 17th.

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.