Ingalls & Snyder LLC Takes $326,000 Position in Neurotrope Inc (NTRP)
Ingalls & Snyder LLC purchased a new stake in shares of Neurotrope Inc (NASDAQ:NTRP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 33,700 shares of the company’s stock, valued at approximately $326,000.
Separately, Cannell Peter B & Co. Inc. raised its position in Neurotrope by 14.2% during the first quarter. Cannell Peter B & Co. Inc. now owns 270,793 shares of the company’s stock valued at $2,199,000 after purchasing an additional 33,600 shares in the last quarter. 16.83% of the stock is owned by hedge funds and other institutional investors.
NTRP has been the topic of a number of research reports. Zacks Investment Research downgraded Neurotrope from a “hold” rating to a “sell” rating in a research report on Friday, May 11th. Maxim Group started coverage on Neurotrope in a research report on Wednesday, May 16th. They set a “buy” rating and a $16.00 price target on the stock. Finally, ValuEngine upgraded Neurotrope from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd.
Neurotrope, Inc, a biopharmaceutical company, focuses on the development of a product platform for the treatment of Alzheimer's disease (AD). 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 and Niemann-Pick Type C.
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