Short Interest in NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Declines By 88.6%

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP - Get Free Report) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 424,500 shares, a drop of 88.6% from the March 15th total of 3,710,000 shares. Based on an average daily trading volume, of 159,600 shares, the days-to-cover ratio is currently 2.7 days. Approximately 6.7% of the shares of the company are short sold.

Institutional Trading of NRx Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. AdvisorShares Investments LLC bought a new position in NRx Pharmaceuticals in the 4th quarter valued at $296,000. One Wealth Management Investment & Advisory Services LLC purchased a new stake in NRx Pharmaceuticals in the fourth quarter valued at about $65,000. Royal Bank of Canada raised its stake in shares of NRx Pharmaceuticals by 135,799.2% in the second quarter. Royal Bank of Canada now owns 171,233 shares of the company's stock worth $83,000 after purchasing an additional 171,107 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of NRx Pharmaceuticals in the fourth quarter worth about $49,000. Finally, Geode Capital Management LLC grew its holdings in NRx Pharmaceuticals by 18.1% during the fourth quarter. Geode Capital Management LLC now owns 378,667 shares of the company's stock worth $420,000 after acquiring an additional 58,040 shares during the period. 4.27% of the stock is owned by hedge funds and other institutional investors.

NRx Pharmaceuticals Stock Up 7.2 %

Shares of NRx Pharmaceuticals stock traded up $0.37 during trading hours on Wednesday, reaching $5.53. 173,894 shares of the stock traded hands, compared to its average volume of 156,976. The company has a 50 day moving average price of $41.98 and a 200 day moving average price of $37.50. The firm has a market capitalization of $52.92 million, a price-to-earnings ratio of -1.38 and a beta of 1.02. NRx Pharmaceuticals has a one year low of $2.21 and a one year high of $12.00.

NRx Pharmaceuticals Company Profile

NRx Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops novel therapeutics based on N-methyl-D-aspartate platform 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 investigational breakthrough therapy for suicidal treatment-resistant bipolar depression and chronic pain; and NRX-100 (ketamine), which has been awarded FDA fast track designation for the treatment of acute suicidality in depression.

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