Neurotrope Inc (NASDAQ:NTRP) Sees Significant Decrease in Short Interest

Neurotrope Inc (NASDAQ:NTRP) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totalling 236,300 shares, a decline of 57.6% from the August 30th total of 557,100 shares. Based on an average daily volume of 508,700 shares, the days-to-cover ratio is currently 0.5 days. Currently, 2.4% of the company’s stock are sold short.

Several large investors have recently added to or reduced their stakes in NTRP. Vanguard Group Inc. boosted its position in shares of Neurotrope by 21.7% during the 2nd 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. BlackRock Inc. boosted its position in shares of Neurotrope by 144.3% during the 2nd 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. NorthRock Partners LLC boosted its position in shares of Neurotrope by 45.5% during the 2nd 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. Cannell Peter B & Co. Inc. boosted its position in shares of Neurotrope by 7.5% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 229,481 shares of the company’s stock worth $1,840,000 after acquiring an additional 16,100 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Neurotrope by 46.7% during the 2nd 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. 15.00% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on the company. Zacks Investment Research cut Neurotrope from a “strong-buy” rating to a “hold” rating in a research note on Thursday. ValuEngine raised Neurotrope from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Maxim Group cut Neurotrope from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, Janney Montgomery Scott cut Neurotrope from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $1.00 in a research note on Wednesday, September 11th.

Shares of NASDAQ:NTRP traded down $0.02 on Friday, hitting $0.64. 417,510 shares of the company’s stock were exchanged, compared to its average volume of 993,563. The firm’s 50-day moving average is $2.37 and its 200 day moving average is $5.39. The company has a market capitalization of $8.59 million, a PE ratio of -0.47 and a beta of 2.17. Neurotrope has a 1-year low of $0.63 and a 1-year high of $8.40.

Neurotrope (NASDAQ:NTRP) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.07. Equities analysts predict that Neurotrope will post -1.33 EPS for the current fiscal year.

About Neurotrope

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.

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