Nuformix (LON:NFX) Trading 14.4% Higher – Should You Buy?

Shares of Nuformix plc (LON:NFX) rose 14.4% during trading on Wednesday . The stock traded as high as GBX 0.15 ($0.00) and last traded at GBX 0.14 ($0.00). Approximately 28,579,494 shares were traded during trading, a decline of 44% from the average daily volume of 51,106,910 shares. The stock had previously closed at GBX 0.13 ($0.00).

Analyst Ratings Changes

Separately, Canaccord Genuity Group assumed coverage on shares of Nuformix in a report on Tuesday, March 18th. They issued a “buy” rating and a GBX 293 ($3.88) price target for the company.

Nuformix Trading Up 11.2 %

The stock’s 50 day moving average is GBX 0.10 and its two-hundred day moving average is GBX 0.07. The stock has a market capitalization of £1.71 million, a price-to-earnings ratio of -4.22 and a beta of 1.22.

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

Nuformix Company Profile

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.