Alzamend Neuro, Inc. (NASDAQ:ALZN) Short Interest Up 130.7% in January

Alzamend Neuro, Inc. (NASDAQ:ALZN) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 74,300 shares, a growth of 130.7% from the December 31st total of 32,200 shares. Based on an average daily volume of 137,100 shares, the short-interest ratio is currently 0.5 days. Approximately 1.4% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets lowered their target price on shares of Alzamend Neuro from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, December 16th.

Alzamend Neuro Stock Performance

ALZN stock traded down $0.02 during midday trading on Friday, hitting $1.14. 66,234 shares of the stock were exchanged, compared to its average volume of 84,872. The stock’s 50-day moving average price is $1.19 and its 200-day moving average price is $1.86. Alzamend Neuro has a fifty-two week low of $1.06 and a fifty-two week high of $15.06.

Alzamend Neuro (NASDAQ:ALZN) last announced its quarterly earnings results on Wednesday, December 11th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.38) by $1.98. Sell-side analysts forecast that Alzamend Neuro will post -1.68 earnings per share for the current fiscal year.

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.