Alzamend Neuro (NASDAQ:ALZN) Issues Earnings Results

Alzamend Neuro (NASDAQ:ALZN) announced its quarterly earnings data on Wednesday. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.07), Zacks reports.

Alzamend Neuro Stock Up 2.3%

ALZN opened at $1.35 on Thursday. Alzamend Neuro has a 52-week low of $0.84 and a 52-week high of $3.14. The company has a market cap of $5.13 million, a price-to-earnings ratio of -0.62 and a beta of 0.14. The firm’s fifty day simple moving average is $1.18 and its two-hundred day simple moving average is $1.51.

Institutional Investors Weigh In On Alzamend Neuro

A hedge fund recently raised its position in Alzamend Neuro stock. Geode Capital Management LLC boosted its position in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) by 33.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,506 shares of the company’s stock after purchasing an additional 6,928 shares during the period. Geode Capital Management LLC owned approximately 0.72% of Alzamend Neuro worth $50,000 at the end of the most recent quarter. 49.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Alzamend Neuro from a “sell (e+)” rating to a “sell (e)” rating in a research report 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. Based on data from MarketBeat.com, Alzamend Neuro currently has a consensus rating of “Hold” and an average price target of $28.00.

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.