NRX Pharmaceuticals Inc [NASDAQ: NRXP] loss -31.24% or -0.14 points to close at $0.29 with a heavy trading volume of 6583183 shares. The company report on February 27, 2024 at 10:49 AM that /C O R R E C T I O N — NRx Pharmaceuticals, Inc./.
In the news release, NRx Pharmaceuticals, Inc. Announces Pricing of $1.5 Million Underwritten Public Offering of Common Stock, issued 27-Feb-2024 by NRx Pharmaceuticals, Inc. over PR Newswire, we are advised by the company that the correction removes language inadvertently included in the headline and body of the original press release. The complete, corrected release follows:.
NRx Pharmaceuticals, Inc. (Nasdaq: NRXP), (“NRx Pharmaceuticals” or the “Company”), a clinical-stage biopharmaceutical company, today announced the pricing of its underwritten public offering of shares of its common stock (or pre-funded warrants in lieu thereof) at a public offering price of $0.30 per share, for aggregate gross proceeds of approximately $1,500,000, prior to deducting underwriting discounts and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 750,000 shares of common stock (or pre-funded warrants in lieu thereof) at the public offering price per share, less the underwriting discounts to cover over-allotments, if any. The offering is expected to close on February 28, 2024, subject to satisfaction of customary closing conditions.
The daily chart for NRXP points out that the company has recorded -8.10% loss over the past six months.
If we look at the average trading volume of 1.01M shares, NRXP reached to a volume of 6583183 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about NRX Pharmaceuticals Inc [NRXP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NRXP shares is $3.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NRXP stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Trading performance analysis for NRXP stock
NRX Pharmaceuticals Inc [NRXP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -34.65. With this latest performance, NRXP shares dropped by -23.08% in over the last four-week period, additionally sinking by -8.10% over the last 6 months – not to mention a drop of -70.60% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NRXP stock in for the last two-week period is set at 28.14, with the RSI for the last a single of trading hit 19.26, and the three-weeks RSI is set at 34.22 for NRX Pharmaceuticals Inc [NRXP]. The present Moving Average for the last 50 days of trading for this stock 0.4289, while it was recorded at 0.4096 for the last single week of trading, and 0.3975 for the last 200 days.
NRX Pharmaceuticals Inc [NRXP]: A deeper dive into fundamental analysis
NRX Pharmaceuticals Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.68 and a Current Ratio set at 0.68.
NRX Pharmaceuticals Inc [NRXP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, NRX Pharmaceuticals Inc posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NRXP.
An analysis of Institutional ownership at NRX Pharmaceuticals Inc [NRXP]
The top three institutional holders of NRXP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NRXP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NRXP stock with ownership which is approximately 5.8325%.
