Insider Buying: NeurAxis (NASDAQ:NRXS) CEO Buys 8,060 Shares of Stock

NeurAxis, Inc. (NASDAQ:NRXS) CEO Brian Allen Carrico bought 8,060 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were bought at an average price of $1.96 per share, for a total transaction of $15,797.60. Following the transaction, the chief executive officer directly owned 348,178 shares in the company, valued at $682,428.88. This trade represents a 2.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

NeurAxis Stock Performance

NASDAQ NRXS remained flat at $7.25 on Friday. 44,031 shares of the company traded hands, compared to its average volume of 146,737. The stock has a market capitalization of $81.11 million, a P/E ratio of -3.94 and a beta of 2.49. NeurAxis, Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $7.97. The stock’s 50 day moving average is $5.75 and its two-hundred day moving average is $4.11.

Hedge Funds Weigh In On NeurAxis

A number of hedge funds and other institutional investors have recently bought and sold shares of NRXS. State Street Corp purchased a new position in shares of NeurAxis during the fourth quarter worth approximately $139,000. Rosalind Advisors Inc. purchased a new position in shares of NeurAxis in the fourth quarter worth about $1,299,000. Geode Capital Management LLC lifted its stake in shares of 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 last quarter. Money Concepts Capital Corp boosted its holdings in NeurAxis by 566.6% during the 4th quarter. Money Concepts Capital Corp now owns 222,605 shares of the company’s stock valued at $1,011,000 after acquiring an additional 189,210 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in NeurAxis by 39.6% during the 3rd 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. Hedge funds and other institutional investors own 11.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum increased their price target on NeurAxis from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, NeurAxis currently has an average rating of “Buy” and a consensus target price of $13.00.

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.