Nuformix (LON:NFX) Trading Up 6.7% – Time to Buy?

Nuformix plc (LON:NFX) rose 6.7% during trading on Wednesday . The company traded as high as GBX 0.08 ($0.00) and last traded at GBX 0.08 ($0.00). Approximately 6,245,796 shares traded hands during trading, a decline of 88% from the average daily volume of 52,332,500 shares. The stock had previously closed at GBX 0.08 ($0.00).

Analyst Ratings Changes

Separately, Canaccord Genuity Group began coverage on Nuformix in a research report on Tuesday. They issued a “buy” rating and a GBX 293 ($3.80) price objective for the company.

Nuformix Price Performance

The company’s 50-day moving average price is GBX 0.08 and its 200-day moving average price is GBX 0.07. The company has a market cap of £1.35 million, a P/E ratio of -3.34 and a beta of 1.22.

Nuformix (LON:NFX) last announced its earnings results on Wednesday, January 29th. The company reported GBX (0.46) (($0.01)) earnings per share for the quarter.

Nuformix Company Profile

Nuformix plc operates in the field of pharmaceutical development for treating fibrosis and oncology through drug repurposing in the United Kingdom. It offers NXP001, which has completed Phase 1 for use in oncology supportive care. The company is also developing NXP004, a novel form of Olaparib, which is in the IP generation phase for treating oncology; and NXP002 that is in pre-clinical stage for the treatment of idiopathic pulmonary fibrosis.