CNS Pharmaceuticals (NASDAQ:CNSP) Shares Down 11.2% – Here’s What Happened

Shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) fell 11.2% during mid-day trading on Wednesday . The company traded as low as $3.63 and last traded at $3.63. 32,885 shares were traded during trading, a decline of 58% from the average session volume of 78,209 shares. The stock had previously closed at $4.09.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

CNS Pharmaceuticals Stock Performance

The company has a market cap of $2.25 million, a price-to-earnings ratio of -0.12 and a beta of 2.70. The stock’s fifty day moving average is $6.06 and its two-hundred day moving average is $7.02.

CNS Pharmaceuticals (NASDAQ:CNSP) last issued its quarterly earnings data on Friday, November 14th. The company reported ($5.76) EPS for the quarter, topping analysts’ consensus estimates of ($6.63) by $0.87.

Institutional Investors Weigh In On CNS Pharmaceuticals

An institutional investor recently bought a new position in CNS Pharmaceuticals stock. Armistice Capital LLC acquired a new position in shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 406,000 shares of the company’s stock, valued at approximately $335,000. Armistice Capital LLC owned about 90.22% of CNS Pharmaceuticals at the end of the most recent reporting period. 14.02% of the stock is owned by hedge funds and other institutional investors.

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.