NeurAxis (NASDAQ:NRXS) Shares Up 5.2% – Here’s Why

NeurAxis, Inc. (NASDAQ:NRXS)’s share price was up 5.2% during trading on Friday . The company traded as high as $7.30 and last traded at $7.27. Approximately 104,359 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 150,096 shares. The stock had previously closed at $6.91.

Analyst Upgrades and Downgrades

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

NeurAxis Price Performance

The stock’s fifty day simple moving average is $7.39 and its 200-day simple moving average is $5.99. The stock has a market cap of $90.03 million, a P/E ratio of -3.95 and a beta of 1.42.

Institutional Trading of NeurAxis

Hedge funds have recently made changes to their positions in the stock. Manatuck Hill Partners LLC acquired a new position in NeurAxis during the 2nd quarter valued at approximately $122,000. Citadel Advisors LLC increased its position in NeurAxis by 39.6% in the third quarter. Citadel Advisors LLC now owns 35,627 shares of the company’s stock worth $110,000 after buying an additional 10,103 shares during the period. Money Concepts Capital Corp lifted its stake in 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 buying an additional 189,210 shares during the last quarter. Geode Capital Management LLC lifted its stake in NeurAxis by 48.8% in the fourth quarter. Geode Capital Management LLC now owns 75,653 shares of the company’s stock valued at $343,000 after buying an additional 24,817 shares during the last quarter. Finally, Rosalind Advisors Inc. bought a new stake in NeurAxis in the fourth quarter valued at $1,299,000. 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.