NeurAxis (NASDAQ:NRXS) Trading Down 5.7% – Here’s What Happened

NeurAxis, Inc. (NASDAQ:NRXS) fell 5.7% during trading on Thursday . The company traded as low as $4.54 and last traded at $4.63. 136,167 shares changed hands during mid-day trading, an increase of 4% from the average session volume of 130,490 shares. The stock had previously closed at $4.91.

Analyst Upgrades and Downgrades

Separately, Craig Hallum increased their price objective on shares of NeurAxis from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $8.00.

NeurAxis Stock Down 5.7%

The firm has a 50 day moving average of $3.52 and a two-hundred day moving average of $2.99. The firm has a market capitalization of $49.32 million, a price-to-earnings ratio of -2.52 and a beta of 2.80.

Insider Buying and Selling at NeurAxis

In related news, Director Gil Aharon purchased 286,138 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were bought at an average cost of $3.52 per share, with a total value of $1,007,205.76. Following the acquisition, the director owned 286,138 shares of the company’s stock, valued at $1,007,205.76. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new position in NeurAxis in the 2nd quarter valued at approximately $37,000. Money Concepts Capital Corp acquired a new position in NeurAxis in the 3rd quarter valued at approximately $103,000. Citadel Advisors LLC raised its stake in shares of NeurAxis by 39.6% during the third quarter. Citadel Advisors LLC now owns 35,627 shares of the company’s stock valued at $110,000 after acquiring an additional 10,103 shares during the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of NeurAxis during the second quarter worth $122,000. Finally, AIGH Capital Management LLC grew its stake in shares of NeurAxis by 1,913.2% in the second quarter. AIGH Capital Management LLC now owns 400,000 shares of the company’s stock worth $968,000 after purchasing an additional 380,131 shares during the last quarter. Institutional investors and hedge funds own 11.77% of the company’s stock.

NeurAxis Company Profile

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.