Insider Buying: NeurAxis (NASDAQ:NRXS) CFO Buys 7,593 Shares of Stock

NeurAxis, Inc. (NASDAQ:NRXS) CFO Timothy Robert Henrichs acquired 7,593 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was bought at an average price of $1.96 per share, with a total value of $14,882.28. Following the purchase, the chief financial officer directly owned 7,593 shares in the company, valued at approximately $14,882.28. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NeurAxis Price Performance

Shares of NRXS stock remained flat at $7.25 during trading hours on Friday. 44,031 shares of the company were exchanged, compared to its average volume of 146,737. The stock has a 50-day moving average price of $5.75 and a two-hundred day moving average price of $4.11. NeurAxis, Inc. has a 12-month low of $1.33 and a 12-month high of $7.97. The stock has a market cap of $81.11 million, a price-to-earnings ratio of -3.94 and a beta of 2.49.

Institutional Investors Weigh In On NeurAxis

Several institutional investors have recently added to or reduced their stakes in NRXS. Rosalind Advisors Inc. acquired a new position in NeurAxis in the fourth quarter valued at approximately $1,299,000. Geode Capital Management LLC increased its stake in 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 during the last quarter. State Street Corp acquired a new stake in NeurAxis during the fourth quarter worth approximately $139,000. Manatuck Hill Partners LLC purchased a new stake in shares of NeurAxis during the 2nd quarter worth approximately $122,000. Finally, Citadel Advisors LLC boosted its holdings in shares of NeurAxis by 39.6% in the 3rd quarter. Citadel Advisors LLC now owns 35,627 shares of the company’s stock valued at $110,000 after buying an additional 10,103 shares in the last quarter. Hedge funds and other institutional investors own 11.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lifted their price objective on shares of NeurAxis from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, NeurAxis has an average rating of “Buy” and an average price target of $13.00.

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.