NeurAxis, Inc. (NASDAQ:NRXS – Get Free Report) traded up 9.9% on Thursday . The stock traded as high as $8.06 and last traded at $7.63. 516,662 shares traded hands during mid-day trading, an increase of 280% from the average session volume of 136,034 shares. The stock had previously closed at $6.94.
NeurAxis Stock Performance
The company has a market cap of $95.82 million, a price-to-earnings ratio of -4.15 and a beta of 1.47. The firm’s 50 day simple moving average is $6.42 and its 200-day simple moving average is $6.91.
Institutional Investors Weigh In On NeurAxis
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AIGH Capital Management LLC purchased a new position in shares of NeurAxis in the 2nd quarter valued at about $3,801,000. Money Concepts Capital Corp raised its holdings in NeurAxis by 1.3% during the first quarter. Money Concepts Capital Corp now owns 225,555 shares of the company’s stock worth $1,669,000 after purchasing an additional 2,950 shares in the last quarter. Panoramic Capital LLC purchased a new stake in shares of NeurAxis during the 2nd quarter worth approximately $841,000. Renaissance Technologies LLC acquired a new position in shares of NeurAxis in the 1st quarter valued at $569,000. Finally, BlackRock Inc. purchased a new position in shares of NeurAxis in the 2nd quarter valued at $429,000. Institutional investors and hedge funds own 11.77% of the company’s stock.
About NeurAxis
NeurAxis, Inc is a medical technology company focused on developing and commercializing non-invasive neuromodulation therapies for functional gastrointestinal and related disorders. The company’s approach is designed to influence the nervous system through targeted electrical stimulation, with the goal of helping regulate symptoms and improve patient outcomes.
NeurAxis’s principal product is IB-Stim, a small, prescription neuromodulation device that delivers percutaneous electrical nerve field stimulation through electrodes placed around the ear.
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