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

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 54,014 shares, a growth of 44.5% from the March 15th total of 37,380 shares. Currently, 6.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 43,316 shares, the short-interest ratio is currently 1.2 days.

CNS Pharmaceuticals Trading Down 2.9%

Shares of NASDAQ:CNSP traded down $0.08 during mid-day trading on Thursday, reaching $2.67. The stock had a trading volume of 21,431 shares, compared to its average volume of 44,692. The company has a market cap of $2.16 million, a P/E ratio of -0.06 and a beta of 2.74. CNS Pharmaceuticals has a 1 year low of $2.06 and a 1 year high of $34.80. The business’s 50 day moving average price is $2.89 and its 200 day moving average price is $5.63.

CNS Pharmaceuticals (NASDAQ:CNSP) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($10.15) earnings per share for the quarter, missing the consensus estimate of ($5.37) by ($4.78).

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On CNS Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC bought a new stake in CNS Pharmaceuticals during the second quarter worth approximately $335,000. Ikarian Capital LLC bought a new stake in CNS Pharmaceuticals during the fourth quarter worth approximately $241,000. Finally, Boothbay Fund Management LLC bought a new stake in CNS Pharmaceuticals during the fourth quarter worth approximately $71,000. 14.02% of the stock is owned by institutional investors.

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.