NeurAxis (NASDAQ:NRXS) Shares Up 0.7% – Still a Buy?

Shares of NeurAxis, Inc. (NASDAQ:NRXS) were up 0.7% on Monday . The stock traded as high as $5.75 and last traded at $5.75. Approximately 68,087 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 106,466 shares. The stock had previously closed at $5.71.

Analysts Set New Price Targets

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

NeurAxis Stock Performance

The company has a market capitalization of $61.25 million, a price-to-earnings ratio of -3.13 and a beta of 2.49. The company has a 50-day moving average price of $4.90 and a 200-day moving average price of $3.56.

Insider Transactions at NeurAxis

In other news, Director Gil Aharon bought 286,138 shares of the stock in a transaction on Tuesday, December 23rd. The stock was purchased at an average price of $3.52 per share, with a total value of $1,007,205.76. Following the completion of the purchase, the director owned 286,138 shares of the company’s stock, valued at approximately $1,007,205.76. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On NeurAxis

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

About NeurAxis

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.