NeurAxis (NASDAQ:NRXS) Director Gil Aharon Purchases 286,138 Shares

NeurAxis, Inc. (NASDAQ:NRXS) Director Gil Aharon bought 286,138 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was bought at an average price of $3.52 per share, for a total transaction of $1,007,205.76. Following the acquisition, the director directly owned 286,138 shares of the company’s stock, valued at $1,007,205.76. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NeurAxis Stock Up 7.1%

NRXS traded up $0.28 during mid-day trading on Monday, reaching $4.20. 374,267 shares of the company traded hands, compared to its average volume of 595,089. The company’s fifty day moving average price is $2.89 and its 200-day moving average price is $2.72. The stock has a market capitalization of $44.74 million, a P/E ratio of -2.28 and a beta of 3.13. NeurAxis, Inc. has a 52-week low of $1.33 and a 52-week high of $6.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. AIGH Capital Management LLC increased its stake in shares of NeurAxis by 1,913.2% in the 2nd quarter. AIGH Capital Management LLC now owns 400,000 shares of the company’s stock worth $968,000 after purchasing an additional 380,131 shares in the last quarter. Manatuck Hill Partners LLC purchased a new position in NeurAxis during the second quarter valued at $122,000. Citadel Advisors LLC grew its holdings in NeurAxis by 39.6% during the third quarter. Citadel Advisors LLC now owns 35,627 shares of the company’s stock valued at $110,000 after purchasing an additional 10,103 shares during the period. Money Concepts Capital Corp bought a new stake in NeurAxis during the third quarter valued at about $103,000. Finally, Wealthcare Advisory Partners LLC purchased a new stake in NeurAxis in the second quarter worth about $37,000. Hedge funds and other institutional investors own 11.77% of the company’s stock.

Analysts Set New Price Targets

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

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.