Is there naked short selling going on at CNS Pharmaceuticals (NASDAQ:CNSP)? There’s a possibility. In fact, CNS Pharmaceuticals has already started an investigation around that very topic. The idea of it might unnerve, but CNS’ proactive stance has investors feeling very good. Sufficiently good to send CNS Pharmaceuticals stock up over 21% at the time of writing.
After some unusual trading patterns emerged in CNS Pharmaceuticals stock, CNS engaged Shareholder Intelligence Services to start investigating the trading patterns and identify if any naked short selling had taken place. CNS CEO John Climaco condemned such a possibility, noting that he—and the entire company—had “…zero tolerance for illegal naked short selling and any other manipulation of our stock.”
That’s certainly a welcome position, but it’s not the only thing going on with CNS right now. Just hours ago, CNS presented at a Virtual Investor Spotlight Event called “Rapidly Advancing GBM Pivotal Study.” The event in question offered a look at brain and central nervous system disorders and what CNS was doing to address these. One of the biggest such treatments CNS has in this area is Berucibin, a drug targeting perhaps the most aggressive kind of brain cancer, glioblastoma multiforme. An interim analysis of Berucibin should start in the third quarter.
A further good sign for CNS Pharmaceutical stock is its insider trading. Insiders are currently Very Positive on the stock, picking up an additional $29,800 in shares over the last three months. Further, that’s virtually all the activity seen in the last 12 months, with no insider selling in that time frame.
