NLS Pharmaceutics AG (NASDAQ:NLSP) Short Interest Up 227.5% in August

NLS Pharmaceutics AG (NASDAQ:NLSP) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 135,600 shares, a growth of 227.5% from the August 15th total of 41,400 shares. Based on an average trading volume of 519,600 shares, the days-to-cover ratio is currently 0.3 days. Currently, 2.4% of the company’s shares are sold short.

Shares of NLSP stock opened at $2.59 on Wednesday. The stock has a fifty day moving average of $2.67 and a 200 day moving average of $3.17. NLS Pharmaceutics has a 52 week low of $2.06 and a 52 week high of $7.35. The firm has a market capitalization of $30.51 million and a price-to-earnings ratio of -6.32.

A number of hedge funds have recently made changes to their positions in NLSP. Citadel Advisors LLC purchased a new position in NLS Pharmaceutics during the second quarter valued at $33,000. Millennium Management LLC purchased a new position in NLS Pharmaceutics during the first quarter valued at $134,000. Renaissance Technologies LLC purchased a new position in NLS Pharmaceutics during the second quarter valued at $132,000. Finally, Axiom Investment Management LLC purchased a new position in NLS Pharmaceutics during the first quarter valued at $273,000. 0.55% of the stock is owned by institutional investors.

Separately, Zacks Investment Research raised NLS Pharmaceutics from a “sell” rating to a “hold” rating in a research note on Wednesday.

NLS Pharmaceutics Company Profile

NLS Pharmaceutics AG, a biopharmaceutical company, engages in the discovery and development of drug therapies to treat rare and complex central nervous system disorders. The company is focusing on the development of treatments for narcolepsy, idiopathic hypersomnia, and other rare sleep disorders, as well as neurodevelopmental disorders, such as attention deficit hyperactivity disorder (ADHD).

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