NLS Pharmaceutics Ltd. (NASDAQ:NCEL) Short Interest Down 46.7% in August

NLS Pharmaceutics Ltd. (NASDAQ:NCEL – Get Free Report) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 19,676 shares, a decline of 46.7% from the August 15th total of 36,949 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 10,805 shares, the short-interest ratio is currently 1.8 days.

Wall Street Analysts Forecast Growth

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

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NLS Pharmaceutics Price Performance

NCEL remained flat at $3.39 on Thursday. 8,658 shares of the company traded hands, compared to its average volume of 54,598. NLS Pharmaceutics has a 52-week low of $1.83 and a 52-week high of $24.60. The company’s fifty day simple moving average is $3.50 and its two-hundred day simple moving average is $3.23.

About NLS Pharmaceutics

(Get Free Report)

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.

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