NeurAxis (NASDAQ:NRXS) Trading Up 1.2% – What’s Next?

NeurAxis, Inc. (NASDAQ:NRXS) traded up 1.2% during mid-day trading on Friday . The company traded as high as $5.30 and last traded at $4.91. 94,023 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 94,714 shares. The stock had previously closed at $4.85.

Analyst Ratings Changes

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

NeurAxis Stock Performance

The company has a market cap of $52.31 million, a price-to-earnings ratio of -2.67 and a beta of 2.81. The firm has a fifty day moving average price of $4.14 and a 200 day moving average price of $3.21.

Insider Buying and Selling

In other news, Director Gil Aharon acquired 286,138 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was bought at an average price of $3.52 per share, with a total value of $1,007,205.76. Following the transaction, the director directly owned 286,138 shares in the company, valued at approximately $1,007,205.76. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 26.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeurAxis

Hedge funds have recently bought and sold shares of the company. Money Concepts Capital Corp bought a new position in NeurAxis during the third quarter worth about $103,000. Citadel Advisors LLC lifted 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 buying an additional 10,103 shares during the last quarter. Manatuck Hill Partners LLC acquired a new stake in shares of NeurAxis in the second quarter valued at approximately $122,000. State Street Corp bought a new position in shares of NeurAxis during the 4th quarter worth approximately $139,000. Finally, Geode Capital Management LLC raised its stake 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 acquiring an additional 24,817 shares during the period. 11.77% of the stock is currently owned by institutional investors and hedge funds.

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.