Nuformix (LON:NFX) Stock Price Up 14.4% – Here’s What Happened

Shares of Nuformix plc (LON:NFX) shot up 14.4% during mid-day trading on Wednesday . The stock traded as high as GBX 0.15 ($0.00) and last traded at GBX 0.14 ($0.00). 28,579,494 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 51,106,910 shares. The stock had previously closed at GBX 0.13 ($0.00).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group initiated coverage on shares of Nuformix in a research report on Tuesday, March 18th. They issued a “buy” rating and a GBX 293 ($3.89) target price for the company.

Nuformix Stock Up 5.3 %

The company has a market cap of £1.72 million, a P/E ratio of -4.25 and a beta of 1.22. The company has a fifty day moving average of GBX 0.10 and a 200 day moving average of GBX 0.07.

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