Alzamend Neuro (NASDAQ:ALZN) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Alzamend Neuro, Inc. (NASDAQ:ALZN)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-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.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Alzamend Neuro from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, August 31st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Alzamend Neuro currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Alzamend Neuro Price Performance

The company has a fifty day moving average price of $1.53 and a 200 day moving average price of $1.47. The company has a market capitalization of $7.39 million, a P/E ratio of -0.67 and a beta of 0.41.

Alzamend Neuro (NASDAQ:ALZN) last announced its quarterly earnings results on Thursday, September 10th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.12). On average, equities research analysts predict that Alzamend Neuro, Inc. will post -1.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alzamend Neuro

A hedge fund recently raised its stake in Alzamend Neuro stock. Kingsbury Capital Investment Advisors LLC lifted its stake in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) by 134.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,329,100 shares of the company’s stock after purchasing an additional 762,367 shares during the period. Alzamend Neuro makes up about 1.3% of Kingsbury Capital Investment Advisors LLC’s holdings, making the stock its 18th biggest position. Kingsbury Capital Investment Advisors LLC owned 27.75% of Alzamend Neuro worth $1,595,000 as of its most recent SEC filing. 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.