CNS Pharmaceuticals (NASDAQ:CNSP) Stock Price Down 0.5% – Here’s What Happened

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) traded down 0.5% during mid-day trading on Friday . The stock traded as low as $5.91 and last traded at $6.17. 27,448 shares changed hands during mid-day trading, an increase of 59% from the average session volume of 17,289 shares. The stock had previously closed at $6.20.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Wall Street Zen cut shares of CNS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Maxim Group upgraded CNS Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, September 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.00.

CNS Pharmaceuticals Stock Down 0.5%

The business’s fifty day moving average price is $7.07 and its 200 day moving average price is $8.05. The firm has a market capitalization of $3.83 million, a PE ratio of -0.20 and a beta of 2.62.

CNS Pharmaceuticals (NASDAQ:CNSP) last announced its earnings results on Friday, November 14th. The company reported ($5.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.63) by $0.87.

Institutional Investors Weigh In On CNS Pharmaceuticals

An institutional investor recently bought a new position in CNS Pharmaceuticals stock. Armistice Capital LLC bought a new stake in CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 406,000 shares of the company’s stock, valued at approximately $335,000. Armistice Capital LLC owned about 90.22% of CNS Pharmaceuticals at the end of the most recent quarter. 14.02% of the stock is currently owned by hedge funds and other 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.