Nuformix (LON:NFX) Stock Price Up 14.4% – Here’s What Happened

Shares of Nuformix plc (LON:NFX) shot up 14.4% during mid-day trading on Wednesday . The stock traded as high as GBX 0.15 ($0.00) and last traded at GBX 0.14 ($0.00). 28,579,494 shares were traded during trading, a decline of 44% from the average session volume of 51,106,910 shares. The stock had previously closed at GBX 0.13 ($0.00).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group began coverage on shares of Nuformix in a research report on Tuesday, March 18th. They issued a “buy” rating and a GBX 293 ($3.88) price target on the stock.

Nuformix Stock Performance

The stock has a 50-day moving average of GBX 0.10 and a 200 day moving average of GBX 0.07. The firm has a market capitalization of £1.71 million, a P/E ratio of -4.22 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.