CNS Pharmaceuticals (NASDAQ:CNSP) Stock Price Up 2.6% – Time to Buy?

Shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) rose 2.6% during trading on Tuesday . The company traded as high as $5.45 and last traded at $5.11. 19,407 shares were traded during trading, an increase of 31% from the average daily volume of 14,831 shares. The stock had previously closed at $4.98.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

CNS Pharmaceuticals Price Performance

The stock has a 50-day moving average price of $4.95 and a 200-day moving average price of $4.33. The company has a market capitalization of $7.77 million, a P/E ratio of -0.18 and a beta of 3.06.

CNS Pharmaceuticals (NASDAQ:CNSP) last announced its earnings results on Thursday, May 14th. The company reported ($7.30) EPS for the quarter, beating the consensus estimate of ($8.82) by $1.52.

Insider Activity

In other news, Director Faith L. Charles acquired 7,100 shares of CNS Pharmaceuticals stock in a transaction dated Monday, May 18th. The shares were bought at an average cost of $4.79 per share, with a total value of $34,009.00. Following the purchase, the director owned 7,100 shares in the company, valued at $34,009. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On CNS Pharmaceuticals

A number of hedge funds have recently bought and sold shares of CNSP. Armistice Capital LLC bought a new stake in CNS Pharmaceuticals during the second quarter valued at $335,000. Ikarian Capital LLC acquired a new stake in CNS Pharmaceuticals during the 4th quarter worth about $241,000. Finally, Boothbay Fund Management LLC bought a new position in shares of CNS Pharmaceuticals in the 4th quarter worth about $71,000. Institutional investors own 14.02% of the company’s stock.

CNS Pharmaceuticals Company Profile

CNS Pharmaceuticals, Inc, headquartered in Houston, Texas, is a clinical-stage biopharmaceutical company focused on developing therapies for aggressive central nervous system tumors. The company’s lead candidate, berubicin, is an anthracycline derivative engineered to cross the blood-brain barrier for the treatment of glioblastoma multiforme and other brain cancers. In addition to berubicin, CNS Pharmaceuticals is advancing WP1066, an immunotherapy agent designed to inhibit the STAT3 signaling pathway and enhance anti-tumor immune activity in the tumor microenvironment.

Berubicin has completed a Phase 1 clinical trial in patients with recurrent glioblastoma, where it demonstrated proof-of-concept signals, and is currently in Phase 2 development.