Nuformix (LON:NFX) Shares Up 20% – Here’s Why

Nuformix plc (LON:NFX) shares shot up 20% during trading on Wednesday . The company traded as high as GBX 0.15 ($0.00) and last traded at GBX 0.14 ($0.00). 21,599,750 shares were traded during trading, a decline of 57% from the average session volume of 50,675,020 shares. The stock had previously closed at GBX 0.12 ($0.00).

Analyst Ratings Changes

Separately, Canaccord Genuity Group started coverage on shares of Nuformix in a research note on Tuesday, March 18th. They set a “buy” rating and a GBX 293 ($3.80) price objective on the stock.

Nuformix Stock Performance

The business’s 50 day moving average price is GBX 0.09 and its two-hundred day moving average price is GBX 0.07. The company has a market capitalization of £1.34 million, a price-to-earnings ratio of -3.31 and a beta of 1.22.

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