NLS Pharmaceutics Ltd. (NASDAQ:NCEL) Short Interest Update

NLS Pharmaceutics Ltd. (NASDAQ:NCEL) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 19,676 shares, a decline of 46.7% from the August 15th total of 36,949 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 10,805 shares, the short-interest ratio is currently 1.8 days.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NCEL. Laidlaw started coverage on shares of NLS Pharmaceutics in a research report on Monday, July 13th. They set a “buy” rating and a $23.00 price target for the company. Weiss Ratings raised shares of NLS Pharmaceutics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.00.

NLS Pharmaceutics Price Performance

NCEL traded up $0.04 during mid-day trading on Tuesday, hitting $3.32. 2,780 shares of the stock were exchanged, compared to its average volume of 55,144. The firm’s fifty day moving average is $3.53 and its two-hundred day moving average is $3.23. NLS Pharmaceutics has a 1-year low of $1.83 and a 1-year high of $24.60.

About NLS Pharmaceutics

NLS Pharmaceutics (NASDAQ: NCEL) is a clinical-stage biopharmaceutical company headquartered in Zurich, Switzerland, with additional operations in the United States. The company focuses on the development of small-molecule therapies designed to address disorders of the circadian rhythm and sleep-wake cycle. It leverages proprietary controlled-release and receptor-targeting approaches to optimize drug exposure over a 24-hour period.

The core of NLS Pharmaceutics’ pipeline consists of novel melatonin receptor agonists aimed at treating rare and orphan sleep disorders such as non-24-hour sleep-wake disorder and idiopathic hypersomnia.