Alzamend Neuro director Milton Ault III buys $304 in shares

In a recent move that has caught the attention of investors, Milton C. Ault III, a director and significant shareholder of Alzamend Neuro, Inc. (NASDAQ:ALZN), has increased his stake in the company. The transaction was executed on April 1, 2024, and reported in a filing with the Securities and Exchange Commission on April 3, 2024.

Milton Ault III purchased 334 shares of Alzamend Neuro at a price of $0.9109 per share, amounting to a total investment of $304. This purchase adds to his already substantial holdings in the pharmaceutical company, which is known for its focus on the development of treatments for neurological and psychiatric disorders.

Following this transaction, Ault's direct and indirect holdings in Alzamend Neuro have shown a significant accumulation of shares. The shares acquired were held indirectly through Ault Lending, LLC, a wholly-owned subsidiary of Ault Alliance, Inc., where Ault serves as the Executive Chairman. According to the footnotes in the SEC filing, he is deemed to have voting and investment power over the securities held by Ault Lending.

In addition to his indirect holdings through Ault Lending, LLC, the filing also disclosed Ault's indirect ownership of 166,865 shares held directly, 996,197 shares through Ault Life Sciences, Inc., and 5,498 shares through Ault Life Sciences Fund, LLC. For both Ault Life Sciences entities, Mr. Ault is reported to have sole voting and investment power.

Investors often monitor insider transactions such as these for insights into executive confidence and company prospects. The actions of directors and significant shareholders can provide valuable context for the market's assessment of a company's future. With this latest purchase, Ault's continued investment in Alzamend Neuro suggests a reaffirmation of his commitment to the company's success.

Alzamend Neuro, Inc. remains focused on its mission to address the unmet needs in the space of neurological and psychiatric care, with a particular emphasis on innovative therapies and treatments.

Following the news of Milton C. Ault III's recent share purchase in Alzamend Neuro, Inc. (NASDAQ:ALZN), it's essential to consider the company's financial health and market performance to understand the broader context of this insider transaction. According to real-time data from InvestingPro, Alzamend Neuro currently has a market capitalization of $6.08 million USD, which reflects the market's valuation of the company. The company's price-to-earnings (P/E) ratio stands at -0.48, indicating that investors are not currently expecting earnings to cover the share price. This is further emphasized by the adjusted P/E ratio for the last twelve months as of Q3 2024, which is at -0.49.

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A key metric that stands out is the company's 1 Year Price Total Return as of Y2024.D94, which shows a significant decline of -87.63%. This metric underscores the challenge Alzamend Neuro faces in the market, as reflected in the stock price's performance over the past year. Additionally, the previous close price of $0.91 USD is another critical figure that investors should consider when evaluating the company's current market standing.

Two "InvestingPro Tips" that are particularly relevant in the context of this insider transaction are: Alzamend Neuro's stock has taken a big hit over the last week, and analysts do not anticipate the company will be profitable this year. These insights suggest that while Ault's additional investment could be seen as a vote of confidence, the company is facing significant financial challenges, as evidenced by its recent market performance and analysts' expectations.

For investors seeking a deeper analysis and more "InvestingPro Tips" for Alzamend Neuro, there are additional insights available on InvestingPro. Subscribers can access a total of 13 tips that provide a comprehensive look at the company's financial health and market prospects. To enhance your investment strategy with these expert insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro .

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