Alzamend Neuro (NASDAQ:ALZN) Trading 3.6% Higher – Here’s Why

Alzamend Neuro, Inc. (NASDAQ:ALZN) shares rose 3.6% on Thursday . The stock traded as high as $1.19 and last traded at $1.16. 371,030 shares were traded during trading, an increase of 22% from the average session volume of 304,163 shares. The stock had previously closed at $1.12.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Alzamend Neuro from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alzamend Neuro currently has an average rating of “Hold” and an average price target of $28.00.

Alzamend Neuro Stock Performance

The firm has a 50 day moving average price of $1.15 and a 200-day moving average price of $1.59. The firm has a market cap of $4.41 million, a price-to-earnings ratio of -0.54 and a beta of 0.14.

Insiders Place Their Bets

In related news, Director Milton C. Ault III bought 108,388 shares of Alzamend Neuro stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average price of $1.00 per share, with a total value of $108,388.00. Following the purchase, the director owned 116,648 shares in the company, valued at $116,648. This represents a 1,312.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Alzamend Neuro stock. DRW Securities LLC grew its position in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 27.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 approximately 3.06% of Alzamend Neuro worth $212,000 as of its most recent SEC filing. 49.61% of the stock is currently owned by institutional investors.

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.