Nuformix (LON:NFX) Stock Price Down 11.7% – What’s Next?

Nuformix plc (LON:NFX)’s stock price dropped 11.7% during mid-day trading on Thursday . The company traded as low as GBX 0.09 ($0.00) and last traded at GBX 0.09 ($0.00). Approximately 51,915,645 shares traded hands 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).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group began coverage on Nuformix in a research note on Tuesday. They issued a “buy” rating and a GBX 293 ($3.81) target price for the company.

Nuformix Price Performance

The firm has a 50-day simple moving average of GBX 0.08 and a 200 day simple moving average of GBX 0.07. The company has a market capitalization of £1.12 million, a PE ratio of -2.76 and a beta of 1.22.

Nuformix (LON:NFX) last posted its 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.