CNS Pharmaceuticals (NASDAQ:CNSP) Stock Price Up 1.8% – Still a Buy?

Shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) rose 1.8% on Tuesday . The stock traded as high as $0.17 and last traded at $0.14. Approximately 64,538,840 shares traded hands during trading, an increase of 47% from the average daily volume of 43,970,223 shares. The stock had previously closed at $0.14.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners raised shares of CNS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, January 24th.

CNS Pharmaceuticals Trading Up 1.8 %

The stock has a market cap of $8.19 million, a price-to-earnings ratio of 0.00 and a beta of 2.51. The firm’s 50-day moving average is $0.11 and its two-hundred day moving average is $0.13.

Hedge Funds Weigh In On CNS Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNSP. Wealthfront Advisers LLC purchased a new stake in shares of CNS Pharmaceuticals in the fourth quarter valued at about $26,000. Integrated Wealth Concepts LLC acquired a new position in CNS Pharmaceuticals in the 4th quarter valued at about $30,000. Connective Capital Management LLC purchased a new stake in shares of CNS Pharmaceuticals in the 4th quarter valued at approximately $34,000. XTX Topco Ltd acquired a new stake in shares of CNS Pharmaceuticals during the 4th quarter worth approximately $36,000. Finally, Citadel Advisors LLC purchased a new stake in shares of CNS Pharmaceuticals during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 14.02% of the company’s stock.

CNS Pharmaceuticals Company Profile

CNS Pharmaceuticals, Inc, a clinical pharmaceutical company, engages in the development of anti-cancer drug candidates for the treatment of brain and central nervous system tumors. The company's lead drug candidate is Berubicin, which completed Phase I clinical trial that is used for the treatment of glioblastoma multiforme.