Alzamend Neuro (NASDAQ:ALZN) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Alzamend Neuro (NASDAQ:ALZN) released its earnings results on Wednesday. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.05), reports.

Alzamend Neuro Stock Down 3.0%

Shares of NASDAQ:ALZN traded down $0.07 during midday trading on Thursday, reaching $2.12. The company’s stock had a trading volume of 19,466 shares, compared to its average volume of 77,145. The stock has a fifty day moving average of $2.07 and a 200 day moving average of $2.22. Alzamend Neuro has a twelve month low of $1.58 and a twelve month high of $10.17. The firm has a market capitalization of $8.05 million, a PE ratio of -0.64 and a beta of -0.25.

Institutional Investors Weigh In On Alzamend Neuro

A hedge fund recently raised its stake in Alzamend Neuro stock. DRW Securities LLC raised its stake in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) by 27.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,319 shares of the company’s stock after purchasing an additional 25,074 shares during the period. DRW Securities LLC owned 3.06% of Alzamend Neuro worth $212,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 49.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Ascendiant Capital Markets decreased their price target on shares of Alzamend Neuro from $42.00 to $28.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Alzamend Neuro in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Alzamend Neuro Company Profile

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.