NeurAxis (NASDAQ:NRXS) CEO Purchases $15,797.60 in Stock

NeurAxis, Inc. (NASDAQ:NRXS) CEO Brian Allen Carrico acquired 8,060 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were bought at an average cost of $1.96 per share, with a total value of $15,797.60. Following the purchase, the chief executive officer owned 348,178 shares of the company’s stock, valued at approximately $682,428.88. This trade represents a 2.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

NeurAxis Stock Performance

Shares of NASDAQ NRXS remained flat at $7.25 during mid-day trading on Friday. 44,031 shares of the company traded hands, compared to its average volume of 146,737. NeurAxis, Inc. has a 12 month low of $1.33 and a 12 month high of $7.97. The business’s 50-day moving average price is $5.75 and its 200 day moving average price is $4.11. The stock has a market capitalization of $81.11 million, a price-to-earnings ratio of -3.94 and a beta of 2.49.

Hedge Funds Weigh In On NeurAxis

A number of institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC boosted its holdings in shares of NeurAxis by 39.6% during 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. Geode Capital Management LLC increased its stake in shares of NeurAxis by 48.8% in the 4th quarter. Geode Capital Management LLC now owns 75,653 shares of the company’s stock worth $343,000 after acquiring an additional 24,817 shares in the last quarter. State Street Corp purchased a new position in NeurAxis during the 4th quarter valued at about $139,000. Money Concepts Capital Corp purchased a new position in NeurAxis during the 3rd quarter valued at about $103,000. Finally, Manatuck Hill Partners LLC bought a new stake in NeurAxis during the second quarter worth about $122,000. Institutional investors own 11.77% of the company’s stock.

Wall Street Analyst Weigh In

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

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.