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

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NRXP shares. Ascendiant Capital Markets boosted their price target on NRx Pharmaceuticals from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. HC Wainwright lifted their price objective on NRx Pharmaceuticals from $2.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 5th.

NRx Pharmaceuticals Stock Performance

NASDAQ:NRXP opened at $1.75 on Monday. The stock has a 50-day simple moving average of $1.90 and a two-hundred day simple moving average of $7.08. NRx Pharmaceuticals has a 52-week low of $1.59 and a 52-week high of $7.33. The firm 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 released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.06. Equities analysts forecast that NRx Pharmaceuticals will post -3.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NRx Pharmaceuticals

A hedge fund recently bought a new stake in NRx Pharmaceuticals stock. AdvisorShares Investments LLC acquired a new stake in shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 642,632 shares of the company’s stock, valued at approximately $296,000. AdvisorShares Investments LLC owned 0.75% of NRx Pharmaceuticals at the end of the most recent reporting period. 4.27% of the stock is currently owned by hedge funds and other institutional investors.

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.