NeurAxis (NASDAQ:NRXS) Trading Up 2.8% – Should You Buy?

NeurAxis, Inc. (NASDAQ:NRXS)’s stock price was up 2.8% during mid-day trading on Thursday . The stock traded as high as $7.34 and last traded at $7.27. Approximately 95,028 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 157,430 shares. The stock had previously closed at $7.07.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum raised their price target on NeurAxis from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $13.00.

NeurAxis Trading Down 5.9%

The firm has a market cap of $84.71 million, a price-to-earnings ratio of -3.72 and a beta of 1.42. The company has a 50 day moving average of $7.46 and a 200 day moving average of $5.54.

Institutional Trading of NeurAxis

Hedge funds have recently added to or reduced their stakes in the business. Money Concepts Capital Corp lifted its holdings in shares of 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 purchasing an additional 189,210 shares in the last quarter. Citadel Advisors LLC raised its position in NeurAxis by 39.6% in the 3rd quarter. Citadel Advisors LLC now owns 35,627 shares of the company’s stock valued at $110,000 after buying an additional 10,103 shares during the last quarter. State Street Corp acquired a new stake in NeurAxis in the 4th quarter valued at approximately $139,000. Rosalind Advisors Inc. acquired a new stake in NeurAxis in the 4th quarter valued at approximately $1,299,000. Finally, Geode Capital Management LLC raised its position in NeurAxis by 48.8% in the 4th 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. Institutional investors and hedge funds 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.