NeurAxis (NASDAQ:NRXS) Trading 1.6% Higher – Time to Buy?

NeurAxis, Inc. (NASDAQ:NRXS)’s stock price was up 1.6% during mid-day trading on Monday . The stock traded as high as $7.07 and last traded at $6.86. 20,185 shares changed hands during trading, a decline of 86% from the average daily volume of 141,502 shares. The stock had previously closed at $6.75.

NeurAxis Price Performance

The stock has a fifty day moving average price of $7.15 and a 200 day moving average price of $6.43. The stock has a market capitalization of $84.95 million, a P/E ratio of -3.73 and a beta of 1.43.

Institutional Trading of NeurAxis

A number of institutional investors have recently added to or reduced their stakes in NRXS. Money Concepts Capital Corp increased its position in shares of NeurAxis by 1.3% during the first quarter. Money Concepts Capital Corp now owns 225,555 shares of the company’s stock valued at $1,669,000 after buying an additional 2,950 shares during the period. Corsair Capital Management L.P. purchased a new stake in shares of NeurAxis in the first quarter worth about $74,000. Citadel Advisors LLC boosted its position in shares of NeurAxis by 39.6% in 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 period. Elevation Point Wealth Partners LLC bought a new position in shares of NeurAxis in the first quarter valued at approximately $81,000. Finally, Geode Capital Management LLC grew its stake in NeurAxis by 48.8% during the fourth quarter. Geode Capital Management LLC now owns 75,653 shares of the company’s stock valued at $343,000 after acquiring an additional 24,817 shares in the last quarter. Hedge funds and other institutional investors 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.