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

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) was the target of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 41,351 shares, an increase of 35.8% from the January 29th total of 30,452 shares. Based on an average daily trading volume, of 25,502 shares, the short-interest ratio is currently 1.6 days. Approximately 6.7% of the company’s shares are short sold. Approximately 6.7% of the company’s shares are short sold. Based on an average daily trading volume, of 25,502 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.00.

CNS Pharmaceuticals Stock Down 3.5%

NASDAQ CNSP traded down $0.11 on Tuesday, reaching $3.02. The stock had a trading volume of 16,758 shares, compared to its average volume of 45,821. The firm has a market capitalization of $1.87 million, a price-to-earnings ratio of -0.10 and a beta of 2.70. CNS Pharmaceuticals has a 12-month low of $2.94 and a 12-month high of $55.20. The stock has a fifty day moving average price of $5.07 and a two-hundred day moving average price of $6.64.

Institutional Trading of CNS Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC acquired a new position in shares of CNS Pharmaceuticals in the 2nd quarter valued at $335,000. Boothbay Fund Management LLC purchased a new position in shares of CNS Pharmaceuticals during the fourth quarter worth about $71,000. Finally, Ikarian Capital LLC acquired a new stake in shares of CNS Pharmaceuticals during the fourth quarter worth about $241,000. Institutional investors and hedge funds 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.