Short Interest in NLS Pharmaceutics Ltd. (NASDAQ:NLSP) Decreases By 56.4%

NLS Pharmaceutics Ltd. (NASDAQ:NLSP) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 22,600 shares, a drop of 56.4% from the October 15th total of 51,800 shares. Based on an average daily trading volume, of 204,500 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On NLS Pharmaceutics

An institutional investor recently raised its position in NLS Pharmaceutics stock. Armistice Capital LLC lifted its stake in NLS Pharmaceutics Ltd. (NASDAQ:NLSP) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,311,000 shares of the company’s stock after purchasing an additional 139,000 shares during the period. Armistice Capital LLC owned 19.62% of NLS Pharmaceutics worth $501,000 at the end of the most recent quarter.

NLS Pharmaceutics Stock Down 11.3 %

Shares of NASDAQ:NLSP traded down $0.44 on Wednesday, hitting $3.46. The stock had a trading volume of 65,997 shares, compared to its average volume of 152,136. The firm’s 50 day moving average price is $3.03 and its 200-day moving average price is $1.18. NLS Pharmaceutics has a twelve month low of $3.15 and a twelve month high of $29.08.

NLS Pharmaceutics Company Profile

NLS Pharmaceutics AG, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for patients with rare and complex central nervous system disorders. The company is focusing on the development of treatments for narcolepsy, idiopathic hypersomnia, and other rare sleep disorders, as well as neurodevelopmental disorders, such as attention deficit hyperactivity disorder (ADHD).