NRx Pharmaceuticals (NASDAQ:NRXP) Trading Up 4.4% – Time to Buy?

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 trading, a decline of 87% from the average daily volume of 1,402,745 shares. The stock had previously closed at $2.28.

Analyst Upgrades and Downgrades

NRXP has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of NRx Pharmaceuticals in a research note on Monday, November 25th. Ascendiant Capital Markets lifted 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. Finally, D. Boral Capital reissued a “buy” rating and issued a $31.00 price objective on shares of NRx Pharmaceuticals in a research note on Tuesday, January 28th.

NRx Pharmaceuticals Stock Up 4.4 %

The business has a 50 day moving average price of $2.92 and a two-hundred day moving average price of $1.99. The stock has a market cap of $37.37 million, a P/E ratio of -1.11 and a beta of 1.12.

Insider Buying and Selling

In related news, Chairman Jonathan C. Javitt acquired 40,000 shares of NRx Pharmaceuticals stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $1.17 per share, for a total transaction of $46,800.00. Following the completion of the transaction, the chairman now directly owns 84,634 shares in the company, valued at approximately $99,021.78. This represents a 89.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.00% of the stock is owned by insiders.

Hedge Funds Weigh In On NRx Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. AdvisorShares Investments LLC increased its holdings in NRx Pharmaceuticals by 138.5% in the 4th quarter. AdvisorShares Investments LLC now owns 310,314 shares of the company’s stock valued at $683,000 after acquiring an additional 180,229 shares during the last quarter. Anson Funds Management LP grew its position in shares of NRx Pharmaceuticals by 30.3% during the fourth quarter. Anson Funds Management LP now owns 185,660 shares of the company’s stock valued at $408,000 after purchasing an additional 43,135 shares in the last quarter. Millennium Management LLC bought a new stake in shares of NRx Pharmaceuticals in the fourth quarter worth about $61,000. Squarepoint Ops LLC purchased a new stake in shares of NRx Pharmaceuticals in the fourth quarter worth about $56,000. Finally, Townsquare Capital LLC purchased a new stake in shares of NRx Pharmaceuticals in the third quarter worth about $25,000. Institutional investors own 4.27% of the company’s stock.

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.