CNS Pharmaceuticals (NASDAQ:CNSP) Trading Down 8.8% – What’s Next?

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP)’s stock price fell 8.8% during mid-day trading on Tuesday . The stock traded as low as $5.27 and last traded at $7.15. 1,495,352 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 4,201,047 shares. The stock had previously closed at $7.84.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CNS Pharmaceuticals in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.00.

CNS Pharmaceuticals Stock Down 8.8%

The stock has a market capitalization of $5.79 million, a P/E ratio of -0.17 and a beta of 2.62. The business’s 50 day simple moving average is $2.67 and its two-hundred day simple moving average is $5.04.

CNS Pharmaceuticals (NASDAQ:CNSP) last posted its earnings results on Tuesday, March 31st. The company reported ($10.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.37) by ($4.78).

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Ikarian Capital LLC bought a new position in shares of CNS Pharmaceuticals in the fourth quarter valued at approximately $241,000. Boothbay Fund Management LLC bought a new position in shares of CNS Pharmaceuticals in the fourth quarter valued at approximately $71,000. Finally, Armistice Capital LLC bought a new position in shares of CNS Pharmaceuticals in the second quarter valued at approximately $335,000. Institutional investors own 14.02% of the company’s stock.

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.