NeurAxis (NASDAQ:NRXS) Price Target Raised to $13.00

NeurAxis (NASDAQ:NRXS) had its price objective increased by Craig Hallum from $8.00 to $13.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

NeurAxis Stock Performance

NeurAxis stock opened at $7.62 on Friday. The company has a market capitalization of $81.18 million, a PE ratio of -4.14 and a beta of 2.49. The company has a 50 day moving average price of $5.32 and a 200-day moving average price of $3.84. NeurAxis has a fifty-two week low of $1.33 and a fifty-two week high of $7.97.

Insiders Place Their Bets

In other news, Director Gil Aharon bought 286,138 shares of the stock in a transaction on Tuesday, December 23rd. The stock was acquired at an average cost of $3.52 per share, for a total transaction of $1,007,205.76. Following the acquisition, the director owned 286,138 shares of the company’s stock, valued at $1,007,205.76. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 26.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NeurAxis

Institutional investors have recently made changes to their positions in the company. Money Concepts Capital Corp raised its holdings in shares of NeurAxis by 566.6% in the fourth quarter. Money Concepts Capital Corp now owns 222,605 shares of the company’s stock valued at $1,011,000 after acquiring an additional 189,210 shares in the last quarter. Geode Capital Management LLC grew its holdings in NeurAxis by 48.8% during the 4th quarter. Geode Capital Management LLC now owns 75,653 shares of the company’s stock worth $343,000 after acquiring an additional 24,817 shares in the last quarter. Rosalind Advisors Inc. bought a new position in NeurAxis during the 4th quarter worth about $1,299,000. State Street Corp purchased a new position in NeurAxis during the 4th quarter valued at about $139,000. Finally, Manatuck Hill Partners LLC purchased a new position in NeurAxis during the 2nd quarter valued at about $122,000. Hedge funds and other institutional investors own 11.77% of the company’s stock.

NeurAxis Company Profile

NeurAxis (NASDAQ: NRXS) is a clinical-stage biotechnology company focused on the discovery and development of therapeutic candidates for diseases of the central nervous system. The company leverages a proprietary approach to deliver small molecules and biologics across the blood–brain barrier, aiming to address conditions ranging from acute neural injury to chronic neurodegenerative disorders.

NeurAxis advances its pipeline through a combination of in-house research, external collaborations with academic medical centers and contract research organizations, and strategic licensing agreements.