NeurAxis, Inc. (NASDAQ:NRXS) Major Shareholder Corp Masimo Sells 821,327 Shares

NeurAxis, Inc. (NASDAQ:NRXS) major shareholder Corp Masimo sold 821,327 shares of NeurAxis stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $2.25, for a total value of $1,847,985.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

NeurAxis Price Performance

NASDAQ NRXS opened at $2.56 on Friday. The firm has a market capitalization of $18.47 million, a P/E ratio of -1.39 and a beta of 3.09. NeurAxis, Inc. has a 1-year low of $1.33 and a 1-year high of $6.20. The business’s 50-day simple moving average is $2.53 and its 200-day simple moving average is $2.38.

Analyst Upgrades and Downgrades

Separately, Craig Hallum initiated coverage on NeurAxis in a report on Monday, June 16th. They issued a “buy” rating for the company.

Hedge Funds Weigh In On NeurAxis

A hedge fund recently bought a new stake in NeurAxis stock. Citadel Advisors LLC acquired a new stake in NeurAxis, Inc. (NASDAQ:NRXS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 47,094 shares of the company’s stock, valued at approximately $111,000. Citadel Advisors LLC owned approximately 0.66% of NeurAxis at the end of the most recent reporting period. 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.