CNS Pharmaceuticals (NASDAQ:CNSP) Share Price Breaks Below 200-Day Moving Average – What’s Next?

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $4.61 and traded as low as $4.30. CNS Pharmaceuticals shares last traded at $4.51, with a volume of 61,129 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CNS Pharmaceuticals in a report on Thursday, October 15th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

CNS Pharmaceuticals Trading Down 11.2%

The company has a market cap of $6.58 million, a price-to-earnings ratio of -0.19 and a beta of 3.10. The business has a 50-day moving average price of $5.36 and a 200 day moving average price of $4.61.

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

Hedge Funds Weigh In On CNS Pharmaceuticals

An institutional investor recently bought a new stake in CNS Pharmaceuticals stock. ADAR1 Capital Management LLC purchased a new position in CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 70,000 shares of the company’s stock, valued at approximately $335,000. ADAR1 Capital Management LLC owned approximately 4.79% of CNS Pharmaceuticals at the end of the most recent quarter. 14.02% of the stock is owned by institutional investors.

CNS Pharmaceuticals Company Profile

CNS Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for primary and metastatic cancers of the central nervous system. The company is headquartered in Houston, Texas, and its shares trade on the Nasdaq Capital Market under the symbol CNSP.

CNS Pharmaceuticals’ lead product candidate is berubicin, an anthracycline designed to cross the blood-brain barrier. The company is evaluating berubicin as a potential treatment for glioblastoma multiforme, an aggressive and often fatal form of brain cancer for which treatment options remain limited.