Short Interest in Alzamend Neuro, Inc. (NASDAQ:ALZN) Drops By 47.0%

Alzamend Neuro, Inc. (NASDAQ:ALZN) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 120,900 shares, a decrease of 47.0% from the February 28th total of 228,200 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average trading volume of 376,700 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets reduced their price objective on Alzamend Neuro from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 17th.

Alzamend Neuro Trading Down 3.6 %

Shares of Alzamend Neuro stock opened at $1.06 on Friday. Alzamend Neuro has a 1 year low of $0.64 and a 1 year high of $15.06. The firm’s 50-day moving average is $0.99 and its two-hundred day moving average is $1.28.

Alzamend Neuro (NASDAQ:ALZN) last posted its earnings results on Monday, March 10th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. Equities analysts expect that Alzamend Neuro will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Alzamend Neuro

A hedge fund recently bought a new stake in Alzamend Neuro stock. Citadel Advisors LLC purchased a new position in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 30,638 shares of the company’s stock, valued at approximately $36,000. Citadel Advisors LLC owned about 0.56% of Alzamend Neuro as of its most recent filing with the Securities & Exchange Commission. 49.61% of the stock is owned by institutional investors and hedge funds.

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.