Alzamend Neuro (NASDAQ:ALZN) Trading Down 2% – Time to Sell?

Alzamend Neuro, Inc. (NASDAQ:ALZN)’s stock price fell 2% during mid-day trading on Thursday . The stock traded as low as $0.98 and last traded at $0.9999. 93,730 shares were traded during mid-day trading, a decline of 65% from the average session volume of 268,275 shares. The stock had previously closed at $1.02.

Wall Street Analysts Forecast Growth

ALZN has been the topic of a number of recent research reports. Ascendiant Capital Markets reduced their target price on shares of Alzamend Neuro from $42.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alzamend Neuro in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Alzamend Neuro presently has a consensus rating of “Hold” and an average price target of $28.00.

Alzamend Neuro Trading Down 2.0%

The business has a 50 day simple moving average of $1.87 and a two-hundred day simple moving average of $2.14. The stock has a market cap of $3.80 million, a price-to-earnings ratio of -0.46 and a beta of -0.05.

Alzamend Neuro (NASDAQ:ALZN) last announced its earnings results on Wednesday, March 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.05). Research analysts anticipate that Alzamend Neuro, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Trading of Alzamend Neuro

An institutional investor recently raised its position in Alzamend Neuro stock. Geode Capital Management LLC raised its stake in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) by 33.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,506 shares of the company’s stock after acquiring an additional 6,928 shares during the quarter. Geode Capital Management LLC owned approximately 0.72% of Alzamend Neuro worth $50,000 at the end of the most recent quarter. Institutional investors and hedge funds own 49.61% of the company’s stock.

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.