Nuformix (LON:NFX) Stock Price Up 20% – Time to Buy?

Nuformix plc (LON:NFX) was up 20% 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 traded hands during mid-day 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 Ratings Changes

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

Nuformix Trading Up 25.0 %

The firm has a market cap of £1.85 million, a PE ratio of -4.56 and a beta of 1.22. The stock’s 50 day moving average price is GBX 0.09 and its 200 day moving average price is GBX 0.07.

Nuformix (LON:NFX) last issued its quarterly earnings data 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.