NLS Pharmaceutics Ltd. (NASDAQ:NCEL) Sees Significant Increase in Short Interest

NLS Pharmaceutics Ltd. (NASDAQ:NCEL) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 106,574 shares, a growth of 21.1% from the January 29th total of 88,032 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average daily volume of 45,479 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily volume of 45,479 shares, the days-to-cover ratio is currently 2.3 days. Approximately 2.8% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Wall Street Zen cut NLS Pharmaceutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

NLS Pharmaceutics Stock Performance

Shares of NASDAQ:NCEL traded down $0.03 during mid-day trading on Thursday, reaching $2.83. 1,773 shares of the company were exchanged, compared to its average volume of 114,948. NLS Pharmaceutics has a 1 year low of $1.89 and a 1 year high of $30.80. The firm’s 50-day simple moving average is $2.57 and its 200 day simple moving average is $9.32.

About NLS Pharmaceutics

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.