NRx Pharmaceuticals (NASDAQ:NRXP) Trading 4.4% Higher – What’s Next?

Shares of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) rose 4.4% on Monday . The company traded as high as $2.42 and last traded at $2.38. Approximately 188,765 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,402,745 shares. The stock had previously closed at $2.28.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. D. Boral Capital restated a “buy” rating and issued a $31.00 price target on shares of NRx Pharmaceuticals in a research report on Tuesday, January 28th. HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of NRx Pharmaceuticals in a report on Monday, November 25th. Finally, Ascendiant Capital Markets increased their price target on shares of NRx Pharmaceuticals from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, December 2nd.

NRx Pharmaceuticals Stock Performance

The company has a market cap of $37.37 million, a PE ratio of -1.11 and a beta of 1.12. The company has a fifty day moving average of $2.92 and a two-hundred day moving average of $1.99.

Insider Buying and Selling at NRx Pharmaceuticals

In other news, Chairman Jonathan C. Javitt acquired 40,000 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $1.17 per share, with a total value of $46,800.00. Following the completion of the purchase, the chairman now directly owns 84,634 shares in the company, valued at approximately $99,021.78. This trade represents a 89.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.00% of the company’s stock.

Institutional Investors Weigh In On NRx Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of NRXP. Townsquare Capital LLC purchased a new position in NRx Pharmaceuticals during the 3rd quarter valued at $25,000. Anson Funds Management LP bought a new stake in shares of NRx Pharmaceuticals during the third quarter worth $241,000. Sassicaia Capital Advisers LLC purchased a new stake in shares of NRx Pharmaceuticals during the fourth quarter valued at $33,000. AdvisorShares Investments LLC grew its holdings in shares of NRx Pharmaceuticals by 138.5% in the fourth quarter. AdvisorShares Investments LLC now owns 310,314 shares of the company’s stock worth $683,000 after purchasing an additional 180,229 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of NRx Pharmaceuticals in the fourth quarter worth about $61,000. 4.27% of the stock is currently owned by hedge funds and other institutional investors.

About NRx Pharmaceuticals

NRx Pharmaceuticals, Inc, a clinical-stage bio-pharmaceutical 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 food and drug administration-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.