Nuformix (LON:NFX) Shares Up 6.7% – Time to Buy?

Nuformix plc (LON:NFX) rose 6.7% during mid-day trading on Wednesday . The stock traded as high as GBX 0.08 ($0.00) and last traded at GBX 0.08 ($0.00). Approximately 6,245,796 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 52,332,500 shares. The stock had previously closed at GBX 0.08 ($0.00).

Wall Street Analysts Forecast Growth

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

Nuformix Stock Performance

The company has a market capitalization of £1.32 million, a PE ratio of -3.25 and a beta of 1.22. The stock’s 50-day simple moving average is GBX 0.08 and its 200 day simple moving average is GBX 0.07.

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

About Nuformix

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.