NeurAxis (NASDAQ:NRXS) Price Target Raised to $13.00

NeurAxis (NASDAQ:NRXS) had its price objective lifted by stock analysts at Craig Hallum from $8.00 to $13.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective indicates a potential upside of 69.49% from the stock’s current price.

NeurAxis Stock Up 7.1%

Shares of NRXS stock traded up $0.51 during mid-day trading on Friday, reaching $7.67. 332,432 shares of the stock traded hands, compared to its average volume of 143,158. The company has a market cap of $81.71 million, a price-to-earnings ratio of -4.17 and a beta of 2.48. The stock’s fifty day simple moving average is $5.27 and its two-hundred day simple moving average is $3.79. NeurAxis has a 1-year low of $1.33 and a 1-year high of $7.97.

Insider Buying and Selling

In other NeurAxis news, Director Gil Aharon bought 286,138 shares of NeurAxis stock in a transaction on Tuesday, December 23rd. The shares were purchased at an average cost of $3.52 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NeurAxis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rosalind Advisors Inc. acquired a new position in shares of NeurAxis during the fourth quarter worth $1,299,000. Money Concepts Capital Corp increased its holdings in NeurAxis by 566.6% in the fourth quarter. Money Concepts Capital Corp now owns 222,605 shares of the company’s stock valued at $1,011,000 after purchasing an additional 189,210 shares during the period. Manatuck Hill Partners LLC acquired a new stake in NeurAxis in the second quarter valued at $122,000. State Street Corp bought a new position in NeurAxis during the 4th quarter worth $139,000. Finally, Geode Capital Management LLC lifted its holdings in NeurAxis by 48.8% during the 4th quarter. Geode Capital Management LLC now owns 75,653 shares of the company’s stock worth $343,000 after buying an additional 24,817 shares during the period. 11.77% of the stock is currently owned by institutional investors and hedge funds.

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.