CNS Pharmaceuticals (NASDAQ:CNSP) Shares Break Below Two Hundred Day Moving Average – Here’s Why

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $4.61 and traded as low as $4.30. CNS Pharmaceuticals shares last traded at $4.51, with a volume of 61,129 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CNS Pharmaceuticals in a report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, CNS Pharmaceuticals has an average rating of “Sell”.

CNS Pharmaceuticals Stock Performance

The firm’s 50-day simple moving average is $5.32 and its 200-day simple moving average is $4.60.

CNS Pharmaceuticals (NASDAQ:CNSP) last released its earnings results on Wednesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.14).

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in CNS Pharmaceuticals stock. Stonepine Capital Management LLC purchased a new stake in shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 41,573 shares of the company’s stock, valued at approximately $198,719. Stonepine Capital Management LLC owned about 2.85% of CNS Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 14.02% of the company’s stock.

About CNS Pharmaceuticals

CNS Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for primary and metastatic cancers of the central nervous system. The company is headquartered in Houston, Texas, and its shares trade on the Nasdaq Capital Market under the symbol CNSP.

CNS Pharmaceuticals’ lead product candidate is berubicin, an anthracycline designed to cross the blood-brain barrier. The company is evaluating berubicin as a potential treatment for glioblastoma multiforme, an aggressive and often fatal form of brain cancer for which treatment options remain limited.