CNS Pharmaceuticals (NASDAQ:CNSP) Stock Price Up 0.4% – Still a Buy?

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) shares rose 0.4% on Wednesday . The stock traded as high as $4.71 and last traded at $4.61. Approximately 30,763 shares changed hands during trading, a decline of 63% from the average daily volume of 82,085 shares. The stock had previously closed at $4.59.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, CNS Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $20.00.

CNS Pharmaceuticals Trading Up 0.4%

The company has a market capitalization of $6.73 million, a P/E ratio of -0.16 and a beta of 3.06. The company’s fifty day moving average is $4.05 and its 200 day moving average is $4.66.

CNS Pharmaceuticals (NASDAQ:CNSP) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($7.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($8.82) by $1.52.

Insider Buying and Selling at CNS Pharmaceuticals

In other news, Director Faith L. Charles bought 7,100 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was bought at an average cost of $4.79 per share, for a total transaction of $34,009.00. Following the completion of the acquisition, the director owned 7,100 shares in the company, valued at approximately $34,009. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On CNS Pharmaceuticals

Large investors have recently made changes to their positions in the business. Boothbay Fund Management LLC purchased a new position in shares of CNS Pharmaceuticals during the fourth quarter valued at approximately $71,000. Ikarian Capital LLC bought a new stake in shares of CNS Pharmaceuticals during the fourth quarter valued at approximately $241,000. Finally, Armistice Capital LLC bought a new stake in shares of CNS Pharmaceuticals during the second quarter valued at approximately $335,000. 14.02% of the stock is currently owned by hedge funds and other institutional investors.

About CNS Pharmaceuticals

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.