CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) Short Interest Up 58.7% in May

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) saw a significant growth in short interest in May. As of May 29th, there was short interest totaling 48,551 shares, a growth of 58.7% from the May 14th total of 30,584 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 128,880 shares, the short-interest ratio is presently 0.4 days.

Insider Buying and Selling

In related news, Director Faith L. Charles bought 7,100 shares of the stock in a transaction on Monday, May 18th. The stock was bought at an average price of $4.79 per share, for a total transaction of $34,009.00. Following the completion of the acquisition, the director directly owned 7,100 shares in the company, valued at approximately $34,009. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On CNS Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Ikarian Capital LLC purchased a new position in shares of CNS Pharmaceuticals in the 4th quarter valued at approximately $241,000. Boothbay Fund Management LLC purchased a new position in shares of CNS Pharmaceuticals in the fourth quarter worth $71,000. Finally, Armistice Capital LLC acquired a new stake in shares of CNS Pharmaceuticals during the second quarter worth $335,000. Institutional investors and hedge funds own 14.02% of the company’s stock.

CNS Pharmaceuticals Stock Performance

CNSP traded down $0.06 during trading on Tuesday, hitting $4.68. The stock had a trading volume of 11,856 shares, compared to its average volume of 802,977. The stock has a 50 day simple moving average of $4.19 and a two-hundred day simple moving average of $4.62. CNS Pharmaceuticals has a twelve month low of $1.90 and a twelve month high of $12.36. The company has a market capitalization of $6.84 million, a PE ratio of -0.16 and a beta of 3.05.

CNS Pharmaceuticals (NASDAQ:CNSP) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($7.30) EPS for the quarter, beating the consensus estimate 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 Monday, April 20th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.00.

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.