Nuformix (LON:NFX) Shares Up 1.4% – Time to Buy?

Shares of Nuformix plc (LON:NFX) shot up 1.4% on Tuesday . The stock traded as high as GBX 0.14 ($0.00) and last traded at GBX 0.14 ($0.00). 7,782,028 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 50,092,891 shares. The stock had previously closed at GBX 0.14 ($0.00).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group initiated coverage on Nuformix in a research report on Tuesday, March 18th. They issued a “buy” rating and a GBX 293 ($3.86) price objective for the company.

Nuformix Stock Up 10.8%

The company has a market cap of £1.77 million, a P/E ratio of -4.37 and a beta of 1.22. The business has a fifty day moving average of GBX 0.11 and a 200 day moving average of GBX 0.08.

Nuformix (LON:NFX) last announced its earnings results on Friday, May 2nd. The company reported GBX 0.03 ($0.00) 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.