NeurAxis (NASDAQ:NRXS) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

NeurAxis, Inc. (NASDAQ:NRXS) shares crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $6.64 and traded as low as $6.59. NeurAxis shares last traded at $6.60, with a volume of 125,711 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised NeurAxis to a “hold” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

NeurAxis Stock Performance

The company has a market capitalization of $82.88 million, a price-to-earnings ratio of -3.59 and a beta of 1.38. The firm has a 50-day simple moving average of $6.84 and a two-hundred day simple moving average of $6.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Corsair Capital Management L.P. acquired a new position in shares of NeurAxis in the first quarter valued at approximately $74,000. Elevation Point Wealth Partners LLC purchased a new stake in NeurAxis during the 1st quarter worth approximately $81,000. T3 Companies LLC purchased a new stake in NeurAxis during the 3rd quarter worth approximately $200,000. BlackRock Inc. acquired a new stake in NeurAxis during the 2nd quarter worth approximately $429,000. Finally, Renaissance Technologies LLC acquired a new stake in NeurAxis during the 1st quarter worth approximately $569,000. Hedge funds and other institutional investors own 11.77% of the company’s stock.

NeurAxis Company Profile

NeurAxis, Inc (NASDAQ: NRXS) is a medical technology company focused on developing and commercializing non-invasive neuromodulation therapies for functional gastrointestinal and other nervous-system-related disorders. The company’s approach is designed to influence neural signaling through targeted electrical stimulation.

NeurAxis’s principal product is IB-Stim, a prescription, percutaneous electrical nerve-field stimulation device intended for use in adolescents with functional abdominal pain associated with irritable bowel syndrome and related functional gastrointestinal disorders.