Insider Buying: NeurAxis (NASDAQ:NRXS) CEO Purchases $15,797.60 in Stock

NeurAxis, Inc. (NASDAQ:NRXS) CEO Brian Allen Carrico purchased 8,060 shares of NeurAxis stock in a transaction that occurred on Wednesday, April 1st. The stock was acquired at an average price of $1.96 per share, with a total value of $15,797.60. Following the transaction, the chief executive officer owned 348,178 shares in the company, valued at $682,428.88. The trade was a 2.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

NeurAxis Stock Performance

Shares of NeurAxis stock opened at $7.25 on Monday. The company has a market capitalization of $81.11 million, a P/E ratio of -3.94 and a beta of 1.89. NeurAxis, Inc. has a 1 year low of $1.33 and a 1 year high of $7.97. The company’s fifty day moving average is $5.80 and its two-hundred day moving average is $4.17.

Hedge Funds Weigh In On NeurAxis

A number of hedge funds and other institutional investors have recently bought and sold shares of NRXS. Money Concepts Capital Corp acquired a new position in NeurAxis in the 3rd quarter valued at $103,000. Citadel Advisors LLC lifted its stake in shares of NeurAxis by 39.6% in the 3rd quarter. Citadel Advisors LLC now owns 35,627 shares of the company’s stock worth $110,000 after acquiring an additional 10,103 shares during the period. Manatuck Hill Partners LLC purchased a new stake in shares of NeurAxis in the second quarter valued at about $122,000. State Street Corp purchased a new stake in shares of NeurAxis in the fourth quarter valued at about $139,000. Finally, Geode Capital Management LLC increased its stake in shares of NeurAxis by 48.8% during the fourth quarter. Geode Capital Management LLC now owns 75,653 shares of the company’s stock worth $343,000 after acquiring an additional 24,817 shares during the period. 11.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.