NLS Pharmaceutics Ltd. (NASDAQ:NCEL) Short Interest Update

NLS Pharmaceutics Ltd. (NASDAQ:NCEL) saw a large decrease in short interest during the month of 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. Currently, 0.4% of the company’s stock are sold short.

NLS Pharmaceutics Trading Up 2.1%

NCEL stock traded up $0.07 during trading on Wednesday, reaching $3.39. The stock had a trading volume of 4,644 shares, compared to its average volume of 7,806. NLS Pharmaceutics has a one year low of $1.83 and a one year high of $24.60. The company’s 50 day moving average is $3.50 and its two-hundred day moving average is $3.23.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NCEL shares. Laidlaw started coverage on NLS Pharmaceutics in a research note on Monday, July 13th. They set a “buy” rating and a $23.00 price target for the company. Weiss Ratings raised NLS Pharmaceutics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.00.

About NLS Pharmaceutics

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.