CNS Pharmaceuticals (NASDAQ:CNSP) Stock Price Up 10% – What’s Next?

Shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) shot up 10% during mid-day trading on Monday . The stock traded as high as $2.56 and last traded at $2.52. 24,137 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 36,980 shares. The stock had previously closed at $2.29.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CNS Pharmaceuticals in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, CNS Pharmaceuticals has an average rating of “Hold” and a consensus price target of $20.00.

CNS Pharmaceuticals Stock Performance

The firm has a market cap of $1.56 million, a P/E ratio of -0.08 and a beta of 2.70. The business’s 50-day simple moving average is $4.18 and its 200 day simple moving average is $6.28.

Institutional Investors Weigh In On CNS Pharmaceuticals

A number of large investors have recently made changes to their positions in CNSP. Armistice Capital LLC bought a new stake in shares of CNS Pharmaceuticals during the 2nd quarter valued at about $335,000. Boothbay Fund Management LLC bought a new position in shares of CNS Pharmaceuticals in the 4th quarter worth approximately $71,000. Finally, Ikarian Capital LLC bought a new position in shares of CNS Pharmaceuticals in the 4th quarter worth approximately $241,000. 14.02% of the stock is currently owned by 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.