NLS Pharmaceutics Ltd. (NASDAQ:NCEL) Sees Significant Growth in Short Interest

NLS Pharmaceutics Ltd. (NASDAQ:NCEL) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 121,686 shares, an increase of 5,453.9% from the December 31st total of 2,191 shares. Approximately 3.2% of the company’s shares are sold short. Based on an average daily trading volume, of 329,044 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 329,044 shares, the short-interest ratio is currently 0.4 days. Approximately 3.2% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NCEL. Weiss Ratings restated a “sell (e+)” rating on shares of NLS Pharmaceutics in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of NLS Pharmaceutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, NLS Pharmaceutics has an average rating of “Sell”.

NLS Pharmaceutics Price Performance

NCEL traded up $0.18 during midday trading on Tuesday, hitting $2.78. 65,940 shares of the company’s stock traded hands, compared to its average volume of 206,083. NLS Pharmaceutics has a one year low of $1.89 and a one year high of $33.70. The stock’s fifty day simple moving average is $2.86 and its 200-day simple moving average is $12.69.

NLS Pharmaceutics Company Profile

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.