Alzamend Neuro Inc (NASDAQ: ALZN) stock fell -17.75% on Monday to $1.39 against a previous-day closing price of $1.69. With 4.59 million shares changed hands, the volume of the stock remained heavier than its average volume of 21090.0 shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.9200 whereas the lowest price it dropped to was $1.1433. The 52-week range on ALZN shows that it touched its highest point at $19.80 and its lowest point at $1.32 during that stretch. It currently has a 1-year price target of $56.25. Beta for the stock currently stands at 0.19.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ALZN was up-trending over the past week, with a rise of 2.21%, but this was down by -53.92% over a month. Three-month performance dropped to -68.03% while six-month performance fell -82.18%. The stock lost -92.53% in the past year, while it has lost -83.60% so far this year. A look at the trailing 12-month EPS for ALZN yields -2.36 with Next year EPS estimates of -2.62. For the next quarter, that number is -0.68. This implies an EPS growth rate of -13.33% for this year and -2.94% for next year.
Float and Shares Shorts:
At present, 6.46 million ALZN shares are outstanding with a float of 3.26 million shares on hand for trading. On Oct 30, 2023, short shares totaled 47710.0, which was 0.74% higher than short shares on Sep 28, 2023. In addition to Mr. Stephan Jackman as the firm’s CEO & Director, Mr. David J. Katzoff serves as its Chief Financial Officer.
Institutional Ownership:
Other institutions hold 3.71% of ALZN, in contrast to 2.78% held by mutual funds. As the largest shareholder in ALZN with 2.39% of the stake, Truist Bank holds 154,328 shares worth 154,328. A second-largest stockholder of ALZN, The Vanguard Group, Inc., holds 135,684 shares, controlling over 2.10% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in ALZN, holding 42,401 shares or 0.66% stake. With a 1.22% stake in ALZN, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 78,545 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 0.88% of ALZN stock, is the second-largest Mutual Fund holder. It holds 57,138 shares valued at 0.1 million. Fidelity Extended Market Index Fu holds 0.37% of the stake in ALZN, owning 24,115 shares worth 42225.0.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ALZN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ALZN analysts setting a high price target of $97.50 and a low target of $15.00, the average target price over the next 12 months is $56.25. Based on these targets, ALZN could surge 6914.39% to reach the target high and rise by 979.14% to reach the target low. Reaching the average price target will result in a growth of 3946.76% from current levels.
Summary of Insider Activity:
Insiders traded ALZN stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 53,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 662,000 while 0 shares were sold.
