NeurAxis (NASDAQ:NRXS) Shares Down 5.7% – Time to Sell?

NeurAxis, Inc. (NASDAQ:NRXS)’s stock price traded down 5.7% during mid-day trading on Thursday . The company traded as low as $4.54 and last traded at $4.63. 136,167 shares traded hands during trading, an increase of 4% from the average session volume of 130,490 shares. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum upped their price objective on shares of NeurAxis from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, NeurAxis currently has a consensus rating of “Buy” and a consensus target price of $8.00.

NeurAxis Trading Up 5.0%

The stock has a market cap of $51.77 million, a PE ratio of -2.64 and a beta of 2.80. The business has a fifty day simple moving average of $3.57 and a two-hundred day simple moving average of $3.01.

Insider Transactions at NeurAxis

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NRXS. Wealthcare Advisory Partners LLC bought a new position in NeurAxis in the 2nd quarter worth $37,000. Money Concepts Capital Corp purchased a new position in shares of NeurAxis in the third quarter valued at about $103,000. Citadel Advisors LLC boosted its stake in shares of 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 acquiring an additional 10,103 shares during the period. Manatuck Hill Partners LLC purchased a new stake in shares of NeurAxis during the second quarter worth about $122,000. Finally, AIGH Capital Management LLC raised its stake in NeurAxis by 1,913.2% during the 2nd quarter. AIGH Capital Management LLC now owns 400,000 shares of the company’s stock valued at $968,000 after purchasing an additional 380,131 shares during the period. 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.