CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) Short Interest Down 13.9% in March

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) was the target of a large drop in short interest in March. As of March 13th, there was short interest totaling 37,380 shares, a drop of 13.9% from the February 26th total of 43,399 shares. Based on an average daily volume of 50,194 shares, the days-to-cover ratio is currently 0.7 days. Approximately 6.0% of the company’s stock are sold short.

CNS Pharmaceuticals Stock Down 4.6%

Shares of CNS Pharmaceuticals stock opened at $2.28 on Thursday. The firm has a market cap of $1.41 million, a price-to-earnings ratio of -0.06 and a beta of 2.70. The company’s 50-day simple moving average is $3.57 and its 200-day simple moving average is $6.07. CNS Pharmaceuticals has a 52-week low of $2.06 and a 52-week high of $34.80.

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

Institutional Investors Weigh In On CNS Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in CNSP. Armistice Capital LLC acquired a new stake in shares of CNS Pharmaceuticals in the second quarter valued at approximately $335,000. Ikarian Capital LLC acquired a new position in shares of CNS Pharmaceuticals during the 4th quarter valued at about $241,000. Finally, Boothbay Fund Management LLC acquired a new position in CNS Pharmaceuticals during the fourth quarter worth approximately $71,000. 14.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.