NeurAxis (NASDAQ:NRXS) Trading 9.9% Higher – Time to Buy?

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

NeurAxis Price Performance

The stock has a 50-day moving average price of $6.42 and a 200 day moving average price of $6.91. The firm has a market cap of $95.82 million, a price-to-earnings ratio of -4.15 and a beta of 1.47.

Institutional Investors Weigh In On NeurAxis

Several hedge funds have recently modified their holdings of the stock. Panoramic Capital LLC acquired a new stake in NeurAxis in the second quarter valued at about $841,000. Elevation Point Wealth Partners LLC acquired a new position in NeurAxis during the second quarter worth $105,000. BlackRock Inc. purchased a new stake in NeurAxis during the second quarter worth $429,000. AIGH Capital Management LLC purchased a new stake in NeurAxis during the second quarter worth $3,801,000. Finally, Corsair Capital Management L.P. acquired a new stake in NeurAxis in the first quarter valued at $74,000. 11.77% of the stock is 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.