NeurAxis (NASDAQ:NRXS) Stock Price Up 0.7% – What’s Next?

NeurAxis, Inc. (NASDAQ:NRXS)’s stock price rose 0.7% during mid-day trading on Monday . The stock traded as high as $5.75 and last traded at $5.75. Approximately 68,087 shares traded 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 raised 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 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 an average target price of $8.00.

NeurAxis Price Performance

The company’s 50-day moving average price is $4.97 and its two-hundred day moving average price is $3.61. The company has a market capitalization of $68.71 million, a P/E ratio of -3.51 and a beta of 2.49.

Insiders Place Their Bets

In related 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 cost of $3.52 per share, for a total transaction of $1,007,205.76. Following the completion of the transaction, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 26.40% of the stock is currently owned by corporate insiders.

Institutional Trading of NeurAxis

A number of institutional investors have recently bought and sold shares of NRXS. Citadel Advisors LLC increased its holdings in shares of NeurAxis by 39.6% during 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 period. Geode Capital Management LLC raised its position 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 buying an additional 24,817 shares in the last quarter. State Street Corp bought a new stake in shares of NeurAxis in the fourth quarter valued at approximately $139,000. Money Concepts Capital Corp bought a new stake in shares of NeurAxis in the third quarter valued at approximately $103,000. Finally, Manatuck Hill Partners LLC acquired a new stake in NeurAxis during the second quarter worth approximately $122,000. 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.