NeurAxis (NASDAQ:NRXS) Stock Price Up 9.9% – Time to Buy?

NeurAxis, Inc. (NASDAQ:NRXS)’s stock price rose 9.9% during mid-day trading on Thursday . The company traded as high as $8.06 and last traded at $7.63. 516,662 shares were traded during trading, an increase of 280% from the average daily volume of 136,034 shares. The stock had previously closed at $6.94.

NeurAxis Stock Down 0.3%

The company’s 50-day moving average price is $6.43 and its 200-day moving average price is $6.91. The firm has a market cap of $95.57 million, a price-to-earnings ratio of -4.14 and a beta of 1.47.

Institutional Investors Weigh In On NeurAxis

A number of hedge funds have recently added to or reduced their stakes in the business. Corsair Capital Management L.P. purchased a new position in NeurAxis in the 1st quarter valued at approximately $74,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of NeurAxis during the first quarter worth $81,000. BlackRock Inc. acquired a new stake in shares of NeurAxis in the second quarter valued at $429,000. Renaissance Technologies LLC acquired a new stake in shares of NeurAxis in the first quarter valued at $569,000. Finally, Panoramic Capital LLC acquired a new stake in shares of NeurAxis in the second quarter valued at $841,000. 11.77% of the stock is currently owned by institutional investors and hedge funds.

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.