CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) Stock Short Interest Drops 69.8%

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 898 shares, a decrease of 69.8% from the September 15th total of 2,969 shares. Based on an average daily trading volume, of 3,007 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On CNS Pharmaceuticals

An institutional investor recently bought a new position in CNS Pharmaceuticals stock. ADAR1 Capital Management LLC bought a new stake in CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 70,000 shares of the company’s stock, valued at approximately $335,000. ADAR1 Capital Management LLC owned approximately 4.79% of CNS Pharmaceuticals as of its most recent SEC filing. 14.02% of the stock is currently owned by institutional investors.

CNS Pharmaceuticals Trading Down 4.7%

Shares of CNSP traded down $0.25 during trading hours on Monday, reaching $5.10. 6,198 shares of the stock traded hands, compared to its average volume of 472,594. The stock has a fifty day simple moving average of $5.49 and a 200 day simple moving average of $4.72. CNS Pharmaceuticals has a 52 week low of $1.90 and a 52 week high of $10.54. The company has a market cap of $7.45 million, a price-to-earnings ratio of -0.22 and a beta of 3.10.

CNS Pharmaceuticals (NASDAQ:CNSP) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.14).

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, CNS Pharmaceuticals has an average rating of “Sell”.

CNS Pharmaceuticals Company Profile

CNS Pharmaceuticals, Inc is a clinical-stage biotechnology company focused on developing treatments for primary and metastatic cancers of the brain and central nervous system. The company’s research is centered on therapies designed to address the challenges of delivering effective medicines across the blood-brain barrier.

Its lead product candidate is berubicin, an anthracycline designed to penetrate the blood-brain barrier and target malignant brain tumors. CNS Pharmaceuticals has primarily investigated berubicin as a potential treatment for glioblastoma multiforme, an aggressive form of brain cancer with limited treatment options.