CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) Shares Shorted: Short Interest Down 69.8% in September

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totaling 898 shares, a drop of 69.8% from the September 15th total of 2,969 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 3,007 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

CNS Pharmaceuticals Trading Up 4.1%

Shares of CNS Pharmaceuticals stock traded up $0.21 during trading hours on Tuesday, reaching $5.40. 2,391 shares of the company’s stock were exchanged, compared to its average volume of 470,195. CNS Pharmaceuticals has a 52-week low of $1.90 and a 52-week high of $10.54. The company has a fifty day moving average of $5.47 and a 200-day moving average of $4.74. The firm has a market capitalization of $7.89 million, a price-to-earnings ratio of -0.23 and a beta of 3.10.

CNS Pharmaceuticals (NASDAQ:CNSP) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.14).

Institutional Trading of CNS Pharmaceuticals

A hedge fund recently bought a new position in CNS Pharmaceuticals stock. ADAR1 Capital Management LLC acquired a new stake in shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 70,000 shares of the company’s stock, valued at approximately $335,000. ADAR1 Capital Management LLC owned about 4.79% of CNS Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 14.02% of the company’s stock.

About CNS Pharmaceuticals

CNS Pharmaceuticals, Inc is a clinical-stage biotechnology company focused on developing treatments for primary and metastatic cancers of the brain and central nervous system. The company’s research is centered on therapies designed to address the challenges of delivering effective medicines across the blood-brain barrier.

Its lead product candidate is berubicin, an anthracycline designed to penetrate the blood-brain barrier and target malignant brain tumors. CNS Pharmaceuticals has primarily investigated berubicin as a potential treatment for glioblastoma multiforme, an aggressive form of brain cancer with limited treatment options.