Neurotrope Inc (NASDAQ:NTRP) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 437,700 shares, an increase of 85.2% from the September 15th total of 236,300 shares. Approximately 4.5% of the shares of the company are sold short. Based on an average trading volume of 557,300 shares, the days-to-cover ratio is currently 0.8 days.
NTRP traded up $0.17 on Wednesday, hitting $1.06. 656,932 shares of the stock were exchanged, compared to its average volume of 226,248. Neurotrope has a 12 month low of $0.63 and a 12 month high of $8.40. The business has a 50-day moving average of $0.74 and a two-hundred day moving average of $3.97. The firm has a market capitalization of $11.46 million, a price-to-earnings ratio of -0.77 and a beta of 1.97.
A number of institutional investors and hedge funds have recently bought and sold shares of NTRP. Cannell Peter B & Co. Inc. lifted its position in Neurotrope by 7.5% during the second quarter. Cannell Peter B & Co. Inc. now owns 229,481 shares of the company’s stock worth $1,840,000 after purchasing an additional 16,100 shares during the period. NorthRock Partners LLC raised its stake in Neurotrope by 45.5% during the second quarter. NorthRock Partners LLC now owns 104,000 shares of the company’s stock worth $834,000 after acquiring an additional 32,500 shares in the last quarter. BlackRock Inc. raised its stake in Neurotrope by 144.3% during the second quarter. BlackRock Inc. now owns 60,041 shares of the company’s stock worth $482,000 after acquiring an additional 35,464 shares in the last quarter. Vanguard Group Inc. raised its stake in Neurotrope by 21.7% during the second quarter. Vanguard Group Inc. now owns 266,735 shares of the company’s stock worth $2,139,000 after acquiring an additional 47,609 shares in the last quarter. Finally, Morgan Stanley raised its stake in Neurotrope by 46.7% during the second quarter. Morgan Stanley now owns 20,402 shares of the company’s stock worth $164,000 after acquiring an additional 6,490 shares in the last quarter. 9.54% of the stock is owned by institutional investors and hedge funds.
Neurotrope, Inc, a biopharmaceutical company, focuses on the development of a product platform for the treatment of Alzheimer's disease. Its lead product candidate is bryostatin, a natural product isolated from a marine invertebrate organism, a bryozoan called Bugula neritina. The company also develops bryostatin for other neurodegenerative or cognitive diseases and dysfunctions, such as Fragile X syndrome, multiple sclerosis, and niemann-pick type C diseases.
See Also: Why do corrections happen?
Receive News & Ratings for Neurotrope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neurotrope and related companies with MarketBeat.com's FREE daily email newsletter.