CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) Sees Large Decrease in Short Interest

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) was the target 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. Based on an average daily volume of 9,462 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.1% of the company’s stock are short sold.

CNS Pharmaceuticals Price Performance

Shares of CNSP stock opened at $5.23 on Monday. The stock has a market capitalization of $7.64 million, a price-to-earnings ratio of -0.18 and a beta of 3.06. The company’s fifty day simple moving average is $4.92 and its two-hundred day simple moving average is $4.28. CNS Pharmaceuticals has a 1 year low of $1.90 and a 1 year high of $10.59.

CNS Pharmaceuticals (NASDAQ:CNSP) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($7.30) EPS for the quarter, topping analysts’ consensus estimates of ($8.82) by $1.52.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Faith L. Charles acquired 7,100 shares of CNS Pharmaceuticals stock in a transaction on Monday, May 18th. The stock was acquired at an average cost of $4.79 per share, with a total value of $34,009.00. Following the transaction, the director owned 7,100 shares of the company’s stock, valued at approximately $34,009. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC bought a new stake in shares of CNS Pharmaceuticals during the fourth quarter valued at about $71,000. Ikarian Capital LLC bought a new position in shares of CNS Pharmaceuticals in the fourth quarter valued at approximately $241,000. Finally, Armistice Capital LLC bought a new position in shares of CNS Pharmaceuticals in the second quarter valued at approximately $335,000. Hedge funds and other institutional investors own 14.02% of the company’s stock.

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.