Alzamend Neuro Inc. [NASDAQ: ALZN] price plunged by -1.20 percent to reach at -$0.01. The company report on April 28, 2022 that BitNile Holdings Announces Additional Investment in Alzamend From Completion of Phase 1 First-in-Human Clinical Trial for AL001 Treatment of Dementia Related to Alzheimer’s.
BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”) announced today its wholly owned subsidiary, Digital Power Lending, LLC (“DP Lending”) has made an additional investment in Alzamend Neuro, Inc. (Nasdaq: ALZN) (“Alzamend”), a related party and early clinical-stage biopharmaceutical company focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders.
On March 28, 2022, Alzamend announced the achievement of a key milestone, that it received the full data set from its Phase 1 clinical trial for AL001. The purpose of the Phase 1 first-in-human trial was to determine the pharmacokinetics, safety and tolerability of AL001. These data will help Alzamend establish doses for a planned Phase 2A multiple ascending dose study in Alzheimer’s disease patients. AL001 is a novel lithium-delivery system; it is a lithium-salicylate-L-proline engineered ionic cocrystal under development as an oral treatment for patients with dementia related to mild, moderate, and severe cognitive impairment associated with Alzheimer’s. AL001 has the potential to deliver benefits of marketed lithium carbonate without current toxicities.
A sum of 3609754 shares traded at recent session while its average daily volume was at 1.18M shares. Alzamend Neuro Inc. shares reached a high of $0.9449 and dropped to a low of $0.8552 until finishing in the latest session at $0.91.
The one-year ALZN stock forecast points to a potential upside of 91.91. The average equity rating for ALZN stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Alzamend Neuro Inc. [ALZN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALZN shares is $11.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALZN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Ascendiant Capital Markets have made an estimate for Alzamend Neuro Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 01, 2021.
The Average True Range (ATR) for Alzamend Neuro Inc. is set at 0.10 The Price to Book ratio for the last quarter was 6.99, with the Price to Cash per share for the same quarter was set at 0.12.
ALZN Stock Performance Analysis:
Alzamend Neuro Inc. [ALZN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.77. With this latest performance, ALZN shares dropped by -28.42% in over the last four-week period, additionally sinking by -55.44% over the last 6 months .
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALZN stock in for the last two-week period is set at 38.54, with the RSI for the last a single of trading hit 36.41, and the three-weeks RSI is set at 39.67 for Alzamend Neuro Inc. [ALZN]. The present Moving Average for the last 50 days of trading for this stock 1.1099, while it was recorded at 0.9199 for the last single week of trading, and 2.2665 for the last 200 days.
Insight into Alzamend Neuro Inc. Fundamentals:
Return on Total Capital for ALZN is now -312.43, given the latest momentum, and Return on Invested Capital for the company is -356.06. Return on Equity for this stock declined to -356.06, with Return on Assets sitting at -213.54. When it comes to the capital structure of this company, Alzamend Neuro Inc. [ALZN] has a Total Debt to Total Equity ratio set at 16.66. Additionally, ALZN Total Debt to Total Capital is recorded at 14.28, with Total Debt to Total Assets ending up at 11.51.
Reflecting on the efficiency of the workforce at the company, Alzamend Neuro Inc. [ALZN] managed to generate an average of -$2,523,283 per employee.Alzamend Neuro Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 26.60 and a Current Ratio set at 26.60.
Alzamend Neuro Inc. [ALZN] Insider Position Details
There are presently around $3 million, or 1.00% of ALZN stock, in the hands of institutional investors. The top three institutional holders of ALZN stocks are: TRUIST FINANCIAL CORP with ownership of 2,314,907, which is approximately New of the company’s market cap and around 3.40% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 201,765 shares of the stock with an approximate value of $0.18 million in ALZN stocks shares; and MARSHALL WACE, LLP, currently with $0.15 million in ALZN stock with ownership of nearly New of the company’s market capitalization.
Positions in Alzamend Neuro Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 16 institutional holders increased their position in Alzamend Neuro Inc. [NASDAQ:ALZN] by around 3,024,546 shares. Additionally, 14 investors decreased positions by around 520,360 shares, while 1 investors held positions by with 377,769 shares. The mentioned changes placed institutional holdings at 3,167,137 shares, according to the latest SEC report filing. ALZN stock had 13 new institutional investments in for a total of 2,878,573 shares, while 12 institutional investors sold positions of 505,137 shares during the same period.