NeurAxis (NASDAQ:NRXS) Trading Up 1.2% – Here’s Why

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

Analysts Set New Price Targets

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

NeurAxis Stock Up 1.2%

The stock has a fifty day simple moving average of $4.14 and a 200 day simple moving average of $3.21. The firm has a market capitalization of $52.31 million, a P/E ratio of -2.67 and a beta of 2.81.

Insider Buying and Selling at NeurAxis

In related news, Director Gil Aharon bought 286,138 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was bought at an average cost 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. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 26.40% of the company’s stock.

Institutional Trading of NeurAxis

Several hedge funds have recently bought and sold shares of the stock. State Street Corp purchased a new position in shares of NeurAxis during the fourth quarter valued at about $139,000. Rosalind Advisors Inc. bought a new stake in NeurAxis in the 4th quarter worth approximately $1,299,000. Geode Capital Management LLC grew 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. Money Concepts Capital Corp grew its holdings in shares of NeurAxis by 566.6% in 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 in the last quarter. Finally, Citadel Advisors LLC increased its position in NeurAxis by 39.6% in the third quarter. Citadel Advisors LLC now owns 35,627 shares of the company’s stock worth $110,000 after purchasing an additional 10,103 shares during the last quarter. Hedge funds and other institutional investors own 11.77% of the company’s stock.

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.