NeurAxis (NASDAQ:NRXS) Shares Up 1.6% – Time to Buy?

NeurAxis, Inc. (NASDAQ:NRXS)’s stock price traded up 1.6% during trading on Monday . The stock traded as high as $7.07 and last traded at $6.86. 20,185 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 141,502 shares. The stock had previously closed at $6.75.

NeurAxis Stock Performance

The business’s 50-day moving average price is $7.15 and its 200 day moving average price is $6.43. The stock has a market capitalization of $84.95 million, a PE ratio of -3.73 and a beta of 1.43.

Institutional Investors Weigh In On NeurAxis

Several large investors have recently added to or reduced their stakes in the business. Corsair Capital Management L.P. bought a new position in NeurAxis in the 1st quarter worth about $74,000. Elevation Point Wealth Partners LLC bought a new stake in shares of NeurAxis during the 1st quarter valued at about $81,000. Citadel Advisors LLC grew its holdings in shares of NeurAxis by 39.6% during the third quarter. Citadel Advisors LLC now owns 35,627 shares of the company’s stock worth $110,000 after purchasing an additional 10,103 shares in the last quarter. Manatuck Hill Partners LLC purchased a new position in shares of NeurAxis during the second quarter worth about $122,000. Finally, State Street Corp bought a new position in shares of NeurAxis in the fourth quarter worth approximately $139,000. 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.