Nuformix (LON:NFX) Trading Down 11.7% – Here’s What Happened

Nuformix plc (LON:NFX)’s share price dropped 11.7% during trading on Thursday . The stock traded as low as GBX 0.09 ($0.00) and last traded at GBX 0.09 ($0.00). Approximately 51,915,645 shares changed 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 started coverage on shares of Nuformix in a report on Tuesday. They set a “buy” rating and a GBX 293 ($3.78) price objective on the stock.

Nuformix Stock Up 5.4 %

The stock has a market capitalization of £1.21 million, a PE ratio of -2.98 and a beta of 1.22. The business’s 50-day moving average is GBX 0.08 and its two-hundred day moving average is GBX 0.07.

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