Alzamend Neuro (NASDAQ:ALZN) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $1.47 and traded as high as $1.6197. Alzamend Neuro shares last traded at $1.53, with a volume of 72,105 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Alzamend Neuro from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.00.

Alzamend Neuro Stock Up 4.8%

The company has a market capitalization of $7.39 million, a P/E ratio of -0.67 and a beta of 0.41. The company’s 50-day simple moving average is $1.53 and its 200 day simple moving average is $1.47.

Alzamend Neuro (NASDAQ:ALZN) last announced its quarterly earnings results on Thursday, September 10th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.12). As a group, equities research analysts forecast that Alzamend Neuro, Inc. will post -1.05 earnings per share for the current year.

Institutional Trading of Alzamend Neuro

An institutional investor recently raised its position in Alzamend Neuro stock. Kingsbury Capital Investment Advisors LLC increased its position in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) by 134.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,329,100 shares of the company’s stock after buying an additional 762,367 shares during the quarter. Alzamend Neuro accounts for 1.3% of Kingsbury Capital Investment Advisors LLC’s portfolio, making the stock its 18th biggest holding. Kingsbury Capital Investment Advisors LLC owned approximately 27.75% of Alzamend Neuro worth $1,595,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 49.61% of the company’s stock.

About Alzamend Neuro

Alzamend Neuro, Inc (NASDAQ: ALZN) is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative and neuropsychiatric diseases, with an emphasis on Alzheimer’s disease and related dementia. The company’s research is intended to address cognitive decline and other disease-related symptoms through therapies designed to affect biological processes associated with brain function.

Alzamend Neuro’s lead development program is AL001, an investigational lithium-based product candidate being studied for potential use in the treatment of Alzheimer’s disease.