NeurAxis (NASDAQ:NRXS) Stock Price Up 10.3% – Still a Buy?

NeurAxis, Inc. (NASDAQ:NRXS) was up 10.3% on Tuesday . The stock traded as high as $2.20 and last traded at $1.98. Approximately 24,964 shares were traded during mid-day trading, an increase of 44% from the average daily volume of 17,377 shares. The stock had previously closed at $1.80.

NeurAxis Price Performance

The business’s 50 day simple moving average is $2.07 and its 200-day simple moving average is $2.50. The stock has a market capitalization of $14.29 million, a P/E ratio of -1.08 and a beta of 3.46.

Hedge Funds Weigh In On NeurAxis

An institutional investor recently raised its position in NeurAxis stock. Parsons Capital Management Inc. RI increased its stake in NeurAxis, Inc. (NASDAQ:NRXS) by 797.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,726 shares of the company’s stock after buying an additional 103,726 shares during the quarter. Parsons Capital Management Inc. RI owned approximately 1.67% of NeurAxis worth $274,000 as of its most recent SEC filing. 11.77% of the stock is owned by institutional investors and hedge funds.

NeurAxis Company Profile

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.