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

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totaling 898 shares, a drop 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. Approximately 0.1% of the company’s shares are short sold.

CNS Pharmaceuticals Stock Performance

Shares of CNSP stock opened at $5.10 on Wednesday. The firm’s 50 day moving average price is $5.47 and its 200-day moving average price is $4.75. CNS Pharmaceuticals has a one year low of $1.90 and a one year high of $10.54.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in CNS Pharmaceuticals stock. Stonepine Capital Management LLC acquired a new stake in CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 41,573 shares of the company’s stock, valued at approximately $198,719. Stonepine Capital Management LLC owned 2.85% of CNS Pharmaceuticals at the end of the most recent quarter. 14.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

About CNS Pharmaceuticals

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.