NeurAxis (NASDAQ:NRXS) Stock Price Down 2.8% – Here’s Why

NeurAxis, Inc. (NASDAQ:NRXS)’s share price traded down 2.8% during trading on Monday . The stock traded as low as $2.12 and last traded at $2.12. 8,875 shares changed hands during trading, a decline of 59% from the average session volume of 21,772 shares. The stock had previously closed at $2.18.

NeurAxis Stock Down 2.8 %

The stock’s 50 day moving average price is $2.51 and its two-hundred day moving average price is $2.78. The firm has a market capitalization of $15.21 million, a price-to-earnings ratio of -1.15 and a beta of 4.22.

Institutional Inflows and Outflows

An institutional investor recently raised its position in NeurAxis stock. Parsons Capital Management Inc. RI lifted its position in NeurAxis, Inc. (NASDAQ:NRXS) by 797.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC. 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.