NeurAxis (NASDAQ:NRXS) Trading Down 0.9% – Here’s Why

NeurAxis, Inc. (NASDAQ:NRXS)’s stock price fell 0.9% during trading on Tuesday . The company traded as low as $2.15 and last traded at $2.15. 1,796 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 14,753 shares. The stock had previously closed at $2.17.

NeurAxis Price Performance

The stock has a market capitalization of $15.07 million, a P/E ratio of -1.14 and a beta of 4.20. The company’s 50 day simple moving average is $2.42 and its two-hundred day simple moving average is $2.67.

Hedge Funds Weigh In On NeurAxis

A hedge fund recently raised its stake in NeurAxis stock. Parsons Capital Management Inc. RI lifted its holdings in NeurAxis, Inc. (NASDAQ:NRXS) by 797.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,726 shares of the company’s stock after buying an additional 103,726 shares during the quarter. Parsons Capital Management Inc. RI owned about 1.67% of NeurAxis worth $274,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.77% of the company’s stock.

About NeurAxis

NeurAxis, Inc, a medical technology company, focuses on developing neuromodulation therapies to address chronic and debilitating conditions in children and adults in the United States. It offers IB-Stim, a percutaneous electrical nerve field stimulation system intended to be used in patients 11-18 years of age with functional abdominal pain associated with irritable bowel syndrome.