Nuformix (LON:NFX) Trading Down 11.7% – Should You Sell?

Nuformix plc (LON:NFX) was down 11.7% during mid-day trading on Thursday . The stock traded as low as GBX 0.09 ($0.00) and last traded at GBX 0.09 ($0.00). Approximately 51,915,645 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 53,724,547 shares. The stock had previously closed at GBX 0.10 ($0.00).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group initiated coverage on Nuformix in a research note on Tuesday. They set a “buy” rating and a GBX 293 ($3.78) target price for the company.

Nuformix Price Performance

The stock’s 50 day moving average is GBX 0.08 and its two-hundred day moving average is GBX 0.07. The stock has a market capitalization of £1.21 million, a PE ratio of -2.98 and a beta of 1.22.

Nuformix (LON:NFX) last posted 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.