NRx Pharmaceuticals, Inc. (NASDAQ:NRXP – Get Free Report) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totalling 474,600 shares, an increase of 41.3% from the July 31st total of 336,000 shares. Approximately 5.9% of the shares of the stock are sold short. Based on an average daily volume of 90,000 shares, the days-to-cover ratio is presently 5.3 days.
Institutional Trading of NRx Pharmaceuticals
An institutional investor recently bought a new position in NRx Pharmaceuticals stock. AdvisorShares Investments LLC acquired a new position in shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 642,632 shares of the company’s stock, valued at approximately $296,000. AdvisorShares Investments LLC owned approximately 0.75% of NRx Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 4.27% of the stock is owned by institutional investors and hedge funds.
NRx Pharmaceuticals Stock Performance
Shares of NRXP stock traded down $0.05 during mid-day trading on Thursday, hitting $1.83. The company’s stock had a trading volume of 43,138 shares, compared to its average volume of 223,344. The company’s fifty day simple moving average is $2.25 and its 200-day simple moving average is $14.61. The company has a market cap of $19.58 million, a PE ratio of -0.59 and a beta of 1.26. NRx Pharmaceuticals has a 52 week low of $1.68 and a 52 week high of $7.33.
Wall Street Analyst Weigh In
NRXP has been the subject of a number of research reports. Ascendiant Capital Markets dropped their price target on NRx Pharmaceuticals from $50.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, June 7th. HC Wainwright raised their target price on NRx Pharmaceuticals from $2.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.
Get Our Latest Stock Analysis on NRXP
About NRx Pharmaceuticals
NRx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops novel therapeutics for the treatment of central nervous system disorders, including suicidal depression, post-traumatic stress disorder, and chronic pain. Its products include NRX-101 (D-cycloserine/Lurasidone), an oral, fixed dosed combination of D-cycloserine and lurasidone that earned FDA-designated breakthrough therapy for suicidal treatment-resistant bipolar depression; and NRX-100 (ketamine), which has been awarded FDA fast track designation for the treatment of severe bipolar depression with acute suicidal ideation and behavior.
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