NRx Pharmaceuticals (NASDAQ:NRXP) Trading Down 8.7%

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) shares dropped 8.7% during trading on Monday . The stock traded as low as $1.85 and last traded at $1.90. Approximately 393,507 shares were traded during mid-day trading, an increase of 74% from the average daily volume of 226,149 shares. The stock had previously closed at $2.08.

Wall Street Analyst Weigh In

NRXP has been the topic of a number of recent analyst reports. HC Wainwright upped 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. Ascendiant Capital Markets lowered their price target on shares of NRx Pharmaceuticals from $50.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, June 7th.

NRx Pharmaceuticals Stock Performance

The stock’s 50-day moving average price is $2.30 and its 200-day moving average price is $15.05. The company has a market capitalization of $20.33 million, a price-to-earnings ratio of -0.61 and a beta of 1.26.

NRx Pharmaceuticals (NASDAQ:NRXP) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.06. Analysts anticipate that NRx Pharmaceuticals, Inc. will post -4 earnings per share for the current year.

Hedge Funds Weigh In On NRx Pharmaceuticals

A hedge fund recently bought a new stake in NRx Pharmaceuticals stock. AdvisorShares Investments LLC purchased a new position in shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 (SEC). Institutional investors and hedge funds own 4.27% of the company’s stock.

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.