NeurAxis (NASDAQ:NRXS) Stock Price Down 4.6% – What’s Next?

NeurAxis, Inc. (NASDAQ:NRXS) shares dropped 4.6% on Tuesday . The company traded as low as $2.96 and last traded at $3.01. Approximately 48,155 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 559,439 shares. The stock had previously closed at $3.15.

Wall Street Analyst Weigh In

Separately, Craig Hallum initiated coverage on shares of NeurAxis in a research report on Monday, June 16th. They set a “buy” rating for the company. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $7.00.

NeurAxis Stock Down 4.6%

The stock’s fifty day moving average price is $2.59 and its 200-day moving average price is $2.45. The company has a market capitalization of $29.67 million, a price-to-earnings ratio of -1.63 and a beta of 3.18.

Institutional Trading of NeurAxis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new position in NeurAxis during the fourth quarter valued at approximately $111,000. AIGH Capital Management LLC bought a new stake in shares of NeurAxis during the 1st quarter worth approximately $43,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of NeurAxis in the 2nd quarter valued at approximately $37,000. Finally, Manatuck Hill Partners LLC bought a new position in shares of NeurAxis in the second quarter valued at $122,000. Institutional investors own 11.77% of the company’s stock.

About NeurAxis

NeurAxis, Inc, a medical technology company, focuses on developing neuromodulation therapies to address chronic and debilitating conditions in children and adults in the United States. It offers IB-Stim, a percutaneous electrical nerve field stimulation system intended to be used in patients 11-18 years of age with functional abdominal pain associated with irritable bowel syndrome.