CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) Sees Large Decrease in Short Interest

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 15,780 shares, a decline of 56.5% from the June 30th total of 36,287 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 9,462 shares, the short-interest ratio is currently 1.7 days.

CNS Pharmaceuticals Stock Performance

Shares of CNSP stock traded down $0.21 during trading hours on Wednesday, reaching $4.86. The company had a trading volume of 3,091 shares, compared to its average volume of 642,332. CNS Pharmaceuticals has a 12-month low of $1.90 and a 12-month high of $10.59. The company has a market capitalization of $7.09 million, a price-to-earnings ratio of -0.16 and a beta of 3.06. The stock has a fifty day moving average of $4.93 and a 200-day moving average of $4.28.

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

Insiders Place Their Bets

In other CNS Pharmaceuticals news, Director Faith L. Charles acquired 7,100 shares of CNS Pharmaceuticals stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average price of $4.79 per share, with a total value of $34,009.00. Following the completion of the purchase, the director directly owned 7,100 shares of the company’s stock, valued at approximately $34,009. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CNS Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC acquired a new stake in shares of CNS Pharmaceuticals during the second quarter worth about $335,000. Ikarian Capital LLC acquired a new position in CNS Pharmaceuticals during the fourth quarter worth approximately $241,000. Finally, Boothbay Fund Management LLC purchased a new stake in CNS Pharmaceuticals in the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 14.02% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CNS Pharmaceuticals in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.00.

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.