CNS Pharmaceuticals (NASDAQ:CNSP) Trading Down 8.8% – What’s Next?

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP)’s share price was down 8.8% during trading on Tuesday . The stock traded as low as $5.27 and last traded at $7.15. Approximately 1,495,352 shares traded hands during trading, a decline of 64% from the average daily volume of 4,201,047 shares. The stock had previously closed at $7.84.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.00.

CNS Pharmaceuticals Stock Down 8.8%

The firm has a market capitalization of $5.79 million, a P/E ratio of -0.17 and a beta of 2.62. The company’s 50 day moving average is $2.67 and its 200-day moving average is $5.04.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC bought a new position in CNS Pharmaceuticals in the second quarter worth approximately $335,000. Ikarian Capital LLC bought a new position in CNS Pharmaceuticals in the fourth quarter worth approximately $241,000. Finally, Boothbay Fund Management LLC bought a new position in CNS Pharmaceuticals in 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.