NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Sees Large Decline in Short Interest

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 426,500 shares, a decrease of 14.9% from the August 31st total of 501,000 shares. Based on an average daily trading volume, of 80,700 shares, the days-to-cover ratio is currently 5.3 days. Currently, 5.4% of the company’s shares are sold short.

Hedge Funds Weigh In On NRx Pharmaceuticals

An institutional investor recently bought a new position in NRx Pharmaceuticals stock. AdvisorShares Investments LLC acquired a new stake in shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 642,632 shares of the company’s stock, valued at approximately $296,000. AdvisorShares Investments LLC owned about 0.75% of NRx Pharmaceuticals as of its most recent filing with the SEC. 4.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. HC Wainwright increased their price objective on NRx Pharmaceuticals from $2.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Ascendiant Capital Markets increased their price objective on NRx Pharmaceuticals from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th.

NRx Pharmaceuticals Trading Up 2.9 %

Shares of NASDAQ NRXP opened at $1.75 on Monday. NRx Pharmaceuticals has a 12-month low of $1.59 and a 12-month high of $7.33. The stock’s fifty day simple moving average is $1.90 and its two-hundred day simple moving average is $7.08. The stock has a market capitalization of $18.73 million, a PE ratio of -0.56 and a beta of 1.25.

NRx Pharmaceuticals (NASDAQ:NRXP) last issued its earnings results on Wednesday, August 14th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.06. On average, equities analysts predict that NRx Pharmaceuticals will post -3.25 earnings per share for the current fiscal year.

NRx Pharmaceuticals Company Profile

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.