Alzamend Neuro (NASDAQ: ALZN) is scheduled to release its earnings report on Wednesday, December 10, 2023, before the market opens. Analysts project a loss of ($0.83) per share for the quarter, reflecting ongoing challenges within the company.
As of Monday, Alzamend Neuro’s stock opened at $2.25. Over the past year, shares have fluctuated significantly, recording a low of $1.88 and a high of $12.06. The company’s 50-day moving average stands at $2.33, while the 200-day moving average is $2.66. Alzamend currently holds a market capitalization of $7.07 million, with a price-to-earnings ratio of -0.34 and a beta of -0.25.
Recent Insider Activity
In a significant insider transaction, Director Milton C. Ault III sold 101,394 shares of Alzamend Neuro stock on October 8, 2023. The shares were sold at an average price of $2.44, resulting in a total transaction value of $247,401.36. Following this sale, Ault retains 28,657 shares, valued at approximately $69,923.08. This transaction represents a drastic 77.96% reduction in his holdings.
The sale was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC). Notably, company insiders have collectively sold 661,233 shares worth $1,584,153 over the past three months. Currently, insiders own 30.21% of the company’s stock.
Company Overview and Future Prospects
Alzamend Neuro, Inc. is an early clinical-stage biopharmaceutical firm focusing on developing treatments for neurodegenerative and psychiatric disorders. The company’s pipeline includes AL001, a therapeutic combination aimed at treating Alzheimer’s disease, bipolar disorder, post-traumatic stress disorder, major depressive disorder, and other related conditions.
Additionally, Alzamend is advancing ALZN002, which employs a mutant-peptide sensitized cell approach as a therapeutic vaccine intended to boost the immune response against Alzheimer’s disease.
Investors and analysts alike will be closely monitoring the upcoming earnings report for insights into the company’s financial health and strategic direction. For those interested in the latest updates, a daily summary of news and analyst ratings for Alzamend Neuro and similar companies can be received through MarketBeat’s free newsletter service.
