CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) Sees Significant Decline in Short Interest

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) was the recipient of a significant decline in short interest during the month of 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 days-to-cover ratio is presently 1.7 days.

CNS Pharmaceuticals Stock Up 0.2%

Shares of CNSP traded up $0.01 during mid-day trading on Tuesday, hitting $5.08. The company had a trading volume of 1,414 shares, compared to its average volume of 646,810. CNS Pharmaceuticals has a 1-year low of $1.90 and a 1-year high of $10.59. The business’s 50-day simple moving average is $4.93 and its 200-day simple moving average is $4.28. The stock has a market cap of $7.42 million, a PE ratio of -0.18 and a beta of 3.06.

CNS Pharmaceuticals (NASDAQ:CNSP) last released its quarterly earnings data on Thursday, May 14th. The company reported ($7.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($8.82) by $1.52.

Insider Activity

In other news, Director Faith L. Charles purchased 7,100 shares of the business’s stock in a transaction on Monday, May 18th. The shares were bought at an average price of $4.79 per share, with a total value of $34,009.00. Following the completion of the transaction, the director directly owned 7,100 shares in the company, 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 is accessible through this hyperlink. 0.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Armistice Capital LLC acquired a new position in CNS Pharmaceuticals during the 2nd quarter worth $335,000. Ikarian Capital LLC bought a new position in CNS Pharmaceuticals during the 4th quarter valued at $241,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of CNS Pharmaceuticals in the 4th quarter worth $71,000. Institutional investors own 14.02% of the company’s stock.

Wall Street Analyst Weigh In

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

About CNS Pharmaceuticals

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.