NLS Pharmaceutics Ltd [NASDAQ: NLSP] traded at a low on Wednesday, posting a -41.72 loss after which it closed the day’ session at $0.16. The company report on March 20, 2024 at 1:40 PM that NLS Pharmaceutics Announces $1.75 Million Registered Direct Offering.
NLS Pharmaceutics Ltd. (Nasdaq:NLSP)(Nasdaq:NLSPW) (“NLS” or the “Company”), a Swiss clinical-stage biopharmaceutical company focused on the discovery and development of innovative therapies for patients with rare and complex central nervous system disorders, today announced that it has entered into a definitive agreement for the issuance and sale of an aggregate of 7,000,000 of its common shares (or common share equivalents in lieu thereof) at a purchase price of $0.25 per share (or per common share equivalent in lieu thereof) in a registered direct offering. NLS has also agreed to issue in a private placement unregistered warrants to purchase up to an aggregate of 3,500,000 common shares at an exercise price of $0.25 per share. The warrants will become immediately exercisable upon issuance and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about March 22, 2024, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The results of the trading session contributed to over 20509991 shares changing hands. Over the past one week, the price volatility of NLS Pharmaceutics Ltd stands at 49.01% while the volatility over the past one month is 24.46%.
The market cap for NLSP stock reached $5.60 million, with 32.43 million shares outstanding and 23.19 million shares in the current float. Compared to the average trading volume of 68.88K shares, NLSP reached a trading volume of 20509991 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about NLS Pharmaceutics Ltd [NLSP]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NLSP shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NLSP stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
How has NLSP stock performed recently?
NLS Pharmaceutics Ltd [NLSP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -54.01. With this latest performance, NLSP shares dropped by -64.32% in over the last four-week period, additionally sinking by -81.47% over the last 6 months – not to mention a drop of -89.36% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NLSP stock in for the last two-week period is set at 16.23, with the RSI for the last a single of trading hit 11.08, and the three-weeks RSI is set at 21.94 for NLS Pharmaceutics Ltd [NLSP]. The present Moving Average for the last 50 days of trading for this stock 0.4217, while it was recorded at 0.2680 for the last single week of trading, and 0.6755 for the last 200 days.
NLS Pharmaceutics Ltd [NLSP]: Deeper insight into the fundamentals
NLS Pharmaceutics Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.58 and a Current Ratio set at 0.58.
Insider trade positions for NLS Pharmaceutics Ltd [NLSP]
The top three institutional holders of NLSP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NLSP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NLSP stock with ownership which is approximately 5.8325%.
