NeurAxis (NASDAQ:NRXS) Trading Up 2.8% – Time to Buy?

NeurAxis, Inc. (NASDAQ:NRXS)’s share price was up 2.8% during mid-day trading on Thursday . The company traded as high as $7.34 and last traded at $7.27. Approximately 95,028 shares traded hands during trading, a decline of 40% from the average daily volume of 157,430 shares. The stock had previously closed at $7.07.

Analyst Upgrades and Downgrades

Separately, Craig Hallum increased their target price on shares of NeurAxis from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $13.00.

NeurAxis Trading Up 2.8%

The company has a market cap of $90.03 million, a P/E ratio of -3.95 and a beta of 1.42. The firm’s 50 day moving average price is $7.47 and its 200-day moving average price is $5.53.

Institutional Inflows and Outflows

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

About NeurAxis

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.