NLS Pharmaceutics Ltd. (NASDAQ:NCEL) Sees Large Decline in Short Interest

NLS Pharmaceutics Ltd. (NASDAQ:NCEL) saw a large decrease in short interest in August. As of August 31st, there was short interest totaling 19,676 shares, a decrease of 46.7% from the August 15th total of 36,949 shares. Based on an average trading volume of 10,805 shares, the short-interest ratio is presently 1.8 days. Approximately 0.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of research analysts have weighed in on NCEL shares. Weiss Ratings raised shares of NLS Pharmaceutics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, July 13th. Laidlaw started coverage on NLS Pharmaceutics in a research note on Monday, July 13th. They set a “buy” rating and a $23.00 price objective on the stock. 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, NLS Pharmaceutics has an average rating of “Hold” and an average price target of $23.00.

NLS Pharmaceutics Stock Performance

Shares of NLS Pharmaceutics stock traded up $0.04 during mid-day trading on Tuesday, hitting $3.32. The stock had a trading volume of 2,780 shares, compared to its average volume of 55,144. The firm has a 50-day moving average of $3.53 and a two-hundred day moving average of $3.23. NLS Pharmaceutics has a 12-month low of $1.83 and a 12-month high of $24.60.

NLS Pharmaceutics Company Profile

NLS Pharmaceutics (NASDAQ: NCEL) is a clinical-stage biopharmaceutical company headquartered in Zurich, Switzerland, with additional operations in the United States. The company focuses on the development of small-molecule therapies designed to address disorders of the circadian rhythm and sleep-wake cycle. It leverages proprietary controlled-release and receptor-targeting approaches to optimize drug exposure over a 24-hour period.

The core of NLS Pharmaceutics’ pipeline consists of novel melatonin receptor agonists aimed at treating rare and orphan sleep disorders such as non-24-hour sleep-wake disorder and idiopathic hypersomnia.