Nuformix (LON:NFX) Trading 20% Higher – Still a Buy?

Nuformix plc (LON:NFX)’s share price was up 20% during mid-day trading on Wednesday . The stock traded as high as GBX 0.15 ($0.00) and last traded at GBX 0.14 ($0.00). Approximately 21,599,750 shares were traded during trading, a decline of 57% from the average daily volume of 50,675,020 shares. The stock had previously closed at GBX 0.12 ($0.00).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group started coverage on shares of Nuformix in a research report on Tuesday, March 18th. They issued a “buy” rating and a GBX 293 ($3.74) price objective for the company.

Nuformix Stock Performance

The company has a market capitalization of £1.85 million, a price-to-earnings ratio of -4.56 and a beta of 1.22. The company has a fifty day simple moving average of GBX 0.09 and a two-hundred day simple moving average of GBX 0.07.

Nuformix (LON:NFX) last released its earnings results on Wednesday, January 29th. The company reported GBX (0.46) (($0.01)) 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.