Craig Hallum Increases NeurAxis (NASDAQ:NRXS) Price Target to $13.00

NeurAxis (NASDAQ:NRXS) had its price target upped by investment analysts at Craig Hallum from $8.00 to $13.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 70.60% from the company’s current price.

NeurAxis Trading Up 6.4%

Shares of NeurAxis stock opened at $7.62 on Friday. The stock has a market capitalization of $81.18 million, a price-to-earnings ratio of -4.14 and a beta of 2.49. NeurAxis has a 1-year low of $1.33 and a 1-year high of $7.97. The firm’s 50-day moving average price is $5.32 and its two-hundred day moving average price is $3.83.

Insiders Place Their Bets

In other NeurAxis news, Director Gil Aharon acquired 286,138 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was purchased at an average price of $3.52 per share, for a total transaction of $1,007,205.76. Following the transaction, the director owned 286,138 shares in the company, valued at $1,007,205.76. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 26.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Rosalind Advisors Inc. bought a new stake in NeurAxis during the 4th quarter worth about $1,299,000. Money Concepts Capital Corp grew its stake in shares of NeurAxis by 566.6% during the fourth quarter. Money Concepts Capital Corp now owns 222,605 shares of the company’s stock valued at $1,011,000 after purchasing an additional 189,210 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 24,817 shares in the last quarter. Manatuck Hill Partners LLC bought a new position in NeurAxis in the 2nd quarter worth approximately $122,000. Finally, Citadel Advisors LLC lifted its holdings 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 in the last quarter. 11.77% of the stock is owned by institutional investors.

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.