Nuformix (LON:NFX) Stock Price Up 6.7% – Here’s Why

Shares of Nuformix plc (LON:NFX) rose 6.7% during trading on Wednesday . The stock traded as high as GBX 0.08 ($0.00) and last traded at GBX 0.08 ($0.00). Approximately 6,245,796 shares changed hands during trading, a decline of 88% from the average daily volume of 52,332,500 shares. The stock had previously closed at GBX 0.08 ($0.00).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group began coverage on shares of Nuformix in a research report on Tuesday. They set a “buy” rating and a GBX 293 ($3.81) price target on the stock.

Nuformix Stock Performance

The firm has a market cap of £1.32 million, a price-to-earnings ratio of -3.25 and a beta of 1.22. The company has a 50 day moving average price of GBX 0.08 and a 200 day moving average price of GBX 0.07.

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