Nuformix (LON:NFX) Shares Up 14.7% – Should You Buy?

Nuformix plc (LON:NFX)’s share price rose 14.7% during mid-day trading on Tuesday . The stock traded as high as GBX 0.11 ($0.00) and last traded at GBX 0.11 ($0.00). Approximately 14,405,991 shares changed hands during trading, a decline of 72% from the average daily volume of 52,258,316 shares. The stock had previously closed at GBX 0.10 ($0.00).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group began coverage on Nuformix in a report on Tuesday, March 18th. They issued a “buy” rating and a GBX 293 ($3.80) price objective on the stock.

Nuformix Trading Down 7.6 %

The business’s fifty day moving average price is GBX 0.09 and its two-hundred day moving average price is GBX 0.07. The firm has a market cap of £1.19 million, a P/E ratio of -2.95 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)) 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.