Nuformix (LON:NFX) Shares Up 14.7% – Here’s Why

Nuformix plc (LON:NFX) shares were up 14.7% on Tuesday . The stock traded as high as GBX 0.11 ($0.00) and last traded at GBX 0.11 ($0.00). Approximately 14,405,991 shares were traded during trading, a decline of 72% from the average daily volume of 52,258,316 shares. The stock had previously closed at GBX 0.10 ($0.00).

Analyst Ratings Changes

Separately, Canaccord Genuity Group initiated coverage on shares of Nuformix in a report on Tuesday, March 18th. They issued a “buy” rating and a GBX 293 ($3.79) target price for the company.

Nuformix Stock Up 14.7 %

The firm has a fifty day moving average of GBX 0.09 and a 200-day moving average of GBX 0.07. The stock has a market capitalization of £1.34 million, a price-to-earnings ratio of -3.31 and a beta of 1.22.

Nuformix (LON:NFX) last released its quarterly earnings results on Wednesday, January 29th. The company reported GBX (0.46) (($0.01)) earnings per share (EPS) for the quarter.

About Nuformix

Nuformix plc operates in the field of pharmaceutical development for treating fibrosis and oncology through drug repurposing in the United Kingdom. It offers NXP001, which has completed Phase 1 for use in oncology supportive care. The company is also developing NXP004, a novel form of Olaparib, which is in the IP generation phase for treating oncology; and NXP002 that is in pre-clinical stage for the treatment of idiopathic pulmonary fibrosis.