Neuraxis (NRXS)
Market Price (3/30/2026): $6.9 | Market Cap: $73.3 MilSector: Health Care | Industry: Biotechnology
Neuraxis (NRXS)
Market Price (3/30/2026): $6.9Market Cap: $73.3 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33% | Weak multi-year price returns3Y Excs Rtn is -47% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -7.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -219% |
| Megatrend and thematic driversMegatrends include Precision Medicine, Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Targeted Therapies, Show more. | Stock price has recently run up significantly6M Rtn6 month market price return is 131%, 12M Rtn12 month market price return is 228% | |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 17% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -180%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -184% | ||
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 127% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15% | ||
| High stock price volatilityVol 12M is 114% | ||
| Key risksNRXS key risks include [1] significant financial instability and unprofitability, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33% |
| Megatrend and thematic driversMegatrends include Precision Medicine, Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Targeted Therapies, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -47% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -7.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -219% |
| Stock price has recently run up significantly6M Rtn6 month market price return is 131%, 12M Rtn12 month market price return is 228% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 17% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -180%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -184% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 127% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15% |
| High stock price volatilityVol 12M is 114% |
| Key risksNRXS key risks include [1] significant financial instability and unprofitability, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Neuraxis (NRXS) stock has gained about 150% since 11/30/2025 because of the following key factors:
1. NeurAxis achieved significant expansion in insurance reimbursement and covered lives for its IB-Stim therapy.
This included securing a Veterans Affairs Federal Supply Schedule contract effective December 1, 2025, which broadened access to approximately 7 million active patients annually. Additionally, on December 19, 2025, the company announced new medical policy coverage from a major national health insurer, adding approximately 45 million covered lives and bringing the total national coverage to roughly 100 million lives. This news led to an 11.81% stock gain on December 19, 2025, with exceptionally heavy trading volume.
2. The implementation of a permanent reimbursement pathway through a Category I CPT code significantly improved commercialization prospects.
Effective January 8, 2026, the AMA Category I CPT® code for Percutaneous Electrical Nerve Field Stimulation (PENFS) came into effect. This established a permanent, nationally recognized coding and billing pathway for IB-Stim, allowing for a shift from discounted financial assistance to full reimbursement sales, which is expected to enhance revenue and margin expansion.
Show more
1. NeurAxis achieved significant expansion in insurance reimbursement and covered lives for its IB-Stim therapy.
This included securing a Veterans Affairs Federal Supply Schedule contract effective December 1, 2025, which broadened access to approximately 7 million active patients annually. Additionally, on December 19, 2025, the company announced new medical policy coverage from a major national health insurer, adding approximately 45 million covered lives and bringing the total national coverage to roughly 100 million lives. This news led to an 11.81% stock gain on December 19, 2025, with exceptionally heavy trading volume.
2. The implementation of a permanent reimbursement pathway through a Category I CPT code significantly improved commercialization prospects.
Effective January 8, 2026, the AMA Category I CPT® code for Percutaneous Electrical Nerve Field Stimulation (PENFS) came into effect. This established a permanent, nationally recognized coding and billing pathway for IB-Stim, allowing for a shift from discounted financial assistance to full reimbursement sales, which is expected to enhance revenue and margin expansion.
Show more
Stock Movement Drivers
Fundamental Drivers
The 148.2% change in NRXS stock from 11/30/2025 to 3/29/2026 was primarily driven by a 151.5% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.78 | 6.90 | 148.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3 | 4 | 6.2% |
| P/S Multiple | 8.2 | 20.5 | 151.5% |
| Shares Outstanding (Mil) | 10 | 11 | -7.0% |
| Cumulative Contribution | 148.2% |
Market Drivers
11/30/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| NRXS | 148.2% | |
| Market (SPY) | -5.3% | 18.8% |
| Sector (XLV) | -8.7% | 10.2% |
Fundamental Drivers
The 171.7% change in NRXS stock from 8/31/2025 to 3/29/2026 was primarily driven by a 205.4% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.54 | 6.90 | 171.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3 | 4 | 10.9% |
| P/S Multiple | 6.7 | 20.5 | 205.4% |
| Shares Outstanding (Mil) | 9 | 11 | -19.8% |
| Cumulative Contribution | 171.7% |
Market Drivers
8/31/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| NRXS | 171.7% | |
| Market (SPY) | 0.6% | 20.5% |
| Sector (XLV) | 5.2% | 11.4% |
Fundamental Drivers
The 216.5% change in NRXS stock from 2/28/2025 to 3/29/2026 was primarily driven by a 222.7% change in the company's P/S Multiple.| (LTM values as of) | 2282025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.18 | 6.90 | 216.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2 | 4 | 45.3% |
| P/S Multiple | 6.4 | 20.5 | 222.7% |
| Shares Outstanding (Mil) | 7 | 11 | -32.5% |
| Cumulative Contribution | 216.5% |
Market Drivers
2/28/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| NRXS | 216.5% | |
| Market (SPY) | 9.8% | 16.6% |
| Sector (XLV) | -2.1% | 10.3% |
Fundamental Drivers
nullnull
Market Drivers
2/28/2023 to 3/29/2026| Return | Correlation | |
|---|---|---|
| NRXS | ||
| Market (SPY) | 69.4% | 15.0% |
| Sector (XLV) | 18.4% | 9.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NRXS Return | - | - | -55% | -12% | 93% | 54% | 17% |
| Peers Return | -26% | -23% | 113% | 23% | -13% | -5% | 25% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -5% | 72% |
Monthly Win Rates [3] | |||||||
| NRXS Win Rate | - | - | 20% | 42% | 58% | 67% | |
| Peers Win Rate | 36% | 42% | 50% | 52% | 38% | 33% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| NRXS Max Drawdown | - | - | -68% | -21% | -32% | -7% | |
| Peers Max Drawdown | -42% | -58% | -37% | -37% | -42% | -16% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -5% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ECOR, STIM, NPCE, LIVN, INSP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)
How Low Can It Go
NRXS has limited trading history. Below is the Health Care sector ETF (XLV) in its place.
| Event | XLV | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -16.1% | -25.4% |
| % Gain to Breakeven | 19.1% | 34.1% |
| Time to Breakeven | 599 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -28.8% | -33.9% |
| % Gain to Breakeven | 40.4% | 51.3% |
| Time to Breakeven | 116 days | 148 days |
| 2018 Correction | ||
| % Loss | -15.8% | -19.8% |
| % Gain to Breakeven | 18.8% | 24.7% |
| Time to Breakeven | 326 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -40.6% | -56.8% |
| % Gain to Breakeven | 68.3% | 131.3% |
| Time to Breakeven | 1,100 days | 1,480 days |
Compare to ECOR, STIM, NPCE, LIVN, INSP
In The Past
SPDR Select Sector Fund's stock fell -16.1% during the 2022 Inflation Shock from a high on 4/8/2022. A -16.1% loss requires a 19.1% gain to breakeven.
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About Neuraxis (NRXS)
We are a growth stage company focused on developing neuromodulation therapies to address chronic and debilitating conditions in children. We are dedicated to advancing science with our proprietary PENFS technology, which we developed. We believe that superior science and evidence-based research are necessary for adoption by the medical and scientific community. With one FDA indication—functional abdominal pain associated with IBS in adolescents 11-18 years old—on the market, additional clinical trials of PENFS in multiple pediatric conditions are underway focused on unmet healthcare needs in children. --- Our mission is to provide solutions that create value and provide better and safer patient outcomes. We believe in improving lives and minimizing suffering; particularly in the pediatric population, where research and therapeutics are usually lacking. The FDA has already cleared our IB-Stim therapy for functional abdominal pain, associated with IBS, in children. Through innovation and research, we are reimagining the future of patient care. --- The IB-Stim is a PENFS system intended to be used in patients 11-18 years of age with functional abdominal pain associated with IBS. IB-Stim already has market clearance from the FDA for functional abdominal pain associated with IBS in children. FDA has classified the non-implanted nerve stimulator for functional abdominal pain relief as Class II devices. The IB-Stim is intended to be used for 120 hours per week for three consecutive weeks, and not to exceed four (4) consecutive weeks, through application to branches of Cranial Nerves V, VII, IX and X, and the occipital nerves identified by transillumination, as an aid in the reduction of pain when combined with other therapies for IBS DEN180057. In published studies, patients treated with IB-Stim demonstrated significant improvement in pain, disability and global symptoms with no serious adverse events, and minimal to no side effects, including localized skin irritation. The ability of the IB-Stim to produce systemic effects by modulating the central nervous system has been demonstrated in a pre-clinical animal model of IBS. In patients with IBS, the largest effect on all pain measures, including composite pain scores, worst pain, disability and global symptoms, was seen after completing three consecutive weeks of treatment. A fourth consecutive week of treatment was included in clinical testing; no safety concerns were identified with this extra consecutive week of treatment. In the trial of 115 subjects, 10 patients reported side-effects and only three discontinued the study because of side-effects. Of such 10 patients, six experience ear discomfort (three in the PENFS group, three in the sham group), three experienced adhesive allergy (one in the PENFS group, 2 in the sham group), and one experienced syncope due to needle phobia (in the sham group). There were no serious adverse events. Medical providers are trained to place the IB-Stim through IB-Stim Training and Certification. Once the provider is trained, the device can be placed in the outpatient clinic and can be removed by the provider in the clinic or the patient at home. IB-Stim stays on for a total of five-days to allow delivery of gentle electrical pulses to nerves below the skin that access the central nervous system. A study in adolescents showed greater improvement in functional abdominal pain and global symptom improvement with every week of treatment (up to four weeks). At the end of the four-week study, 95% of adolescents stated they would recommend the treatment to family or friends. Safety of percutaneous electrical nerve field stimulation has also been reported in a separate study of over 1200 adult patients with no serious adverse events and minimal to no side-effects. When wearing our IB-Stim device, patients can still attend school and extracurricular activities, exercise or play non-contact sports, shower, wear ear buds or headphones, and travel. Our IB-Stim device costs $1,195 per device, and each patient will use three to four devices. Potential patients with other indications are expected to use six or more devices per patient. We incorporated in Indiana on April 17, 2012, under the name Innovative Health Solutions, Inc. On March 11, 2022, we amended our Articles of Incorporation to change our name to Neuraxis, Inc. On June 23, 2022, we changed our state of incorporation from Indiana to Delaware. Our principal executive offices are located at 11550 N. Meridian Street, Suite 325, Carmel, IN.
AI Analysis | Feedback
Here are 1-3 brief analogies to describe Neuraxis (NRXS):
Insulet for pediatric functional abdominal pain. (Neuraxis, like Insulet, develops specialized, non-invasive, and "wearable" medical devices to manage chronic conditions in specific patient populations, particularly children and adolescents.)
Dexcom for pediatric IBS pain management. (Similar to Dexcom providing a wearable device for chronic diabetes management, Neuraxis offers a wearable medical device for the chronic management of IBS-related pain in adolescents.)
ResMed for pediatric chronic pain. (ResMed develops specialized medical devices for chronic conditions like sleep apnea, which patients use over time, often at home. Neuraxis similarly provides a specialized medical device for chronic pain conditions in children.)
AI Analysis | Feedback
- IB-Stim: A non-implanted percutaneous electrical nerve field stimulator (PENFS) system cleared by the FDA to aid in the reduction of functional abdominal pain associated with IBS in adolescents aged 11-18.
- IB-Stim Training and Certification: A service provided to medical professionals to train them on the proper placement and use of the IB-Stim device.
AI Analysis | Feedback
Neuraxis (NRXS) sells its IB-Stim devices primarily to other companies, specifically healthcare organizations and medical professionals, rather than directly to individual patients. The company trains and certifies "Medical providers" who then place the device in "outpatient clinics."
The provided background information does not name any specific customer companies (e.g., hospital chains, clinic networks, or large medical groups) that are major purchasers of Neuraxis's products. Therefore, specific names and symbols of customer companies cannot be provided. However, the customers can be described by the following categories of healthcare entities:
- Outpatient Clinics: These are facilities where medical providers are trained to place the IB-Stim device for treatment. This would include specialized pediatric clinics, gastroenterology clinics, or pain management clinics.
- Medical Practices/Physician Offices: Individual or group medical practices, particularly those focused on pediatric care, gastroenterology, or general pain management, that adopt and offer the IB-Stim therapy.
- Hospital Outpatient Departments: Larger hospital systems may have dedicated outpatient departments that integrate the IB-Stim treatment into their service offerings for adolescents with functional abdominal pain associated with IBS.
AI Analysis | Feedback
nullAI Analysis | Feedback
Brian Carrico, President & Chief Executive Officer
Brian Carrico joined NeurAxis in 2012 and has held multiple leadership positions, including Vice President of Sales and President, before becoming CEO on January 1, 2018. He was instrumental in setting the strategic agenda for NeurAxis, raising start-up capital, championing new product development, and bringing the company's technology to market. Prior to joining NeurAxis, he worked in sales at Bard Medical and St. Jude Medical.
Timothy Henrichs, Chief Financial Officer
Timothy Henrichs was appointed Chief Financial Officer effective February 5, 2024, bringing over 20 years of global leadership experience across various industries, including healthcare. He previously served as CFO of Renovo Home Partners and was the Executive Vice President and CFO of Follett Corporation from 2008 to 2022. Mr. Henrichs also held leadership positions at General Electric Company's Healthcare Clinical Systems division, Federal Signal Corporation, and Ernst & Young LLP.
Dr. Adrian Miranda, Senior VP of Science & Technology and Chief Medical Officer
Dr. Adrian Miranda brings research and clinical expertise to his role, having previously served as an Assistant Professor at the Medical College of Wisconsin. He is a board-certified Pediatric Gastroenterologist and completed his medical degree, residency, and subspecialty training at the Medical College of Wisconsin and Children's Hospital of Wisconsin (CHW).
Dr. Chris Brown DDS, MPS, Director of Innovation, Founder and Director
Dr. Chris Brown is a co-founder of NeurAxis and is listed as the sole or principal inventor on all NeurAxis patents. He developed clinical protocols, initial practice guidelines, designed and implemented the practitioner certification program, and personally financed the company's first two years. Dr. Brown has a history of purchasing and managing distressed clinics, restructuring them into profitable enterprises.
Dr. Thomas Carrico, Chief Regulatory Officer
Dr. Thomas Carrico has over 40 years of experience in the healthcare field, joining NeurAxis in 2012 after 30 years of prior experience. He has been involved in the study and application of techniques and treatments affecting the autonomic nervous system and has worked with attorneys on state and national boards, which prepared him for his regulatory responsibilities at NeurAxis.
AI Analysis | Feedback
The key risks to Neuraxis's business operations include:
- High concentration on a single product and limited FDA-cleared indication: Neuraxis's primary revenue and market focus are currently reliant on a single product, the IB-Stim device, cleared only for functional abdominal pain associated with IBS in adolescents aged 11-18 years. While additional clinical trials for other pediatric conditions are underway, the company's immediate commercial success and growth prospects are heavily dependent on this very specific and limited market segment. Any unforeseen challenges with the IB-Stim device, or delays/failures in expanding its indications through further clinical trials, could significantly impact the company's financial performance and future viability.
- Challenges with market adoption and securing favorable reimbursement: Even with FDA clearance for the IB-Stim device, its widespread commercial adoption faces potential hurdles. Medical providers require specific training and certification to place the device, which could slow down its integration into clinical practice. Furthermore, the cost of the IB-Stim device, at $1,195 per device with patients typically requiring three to four devices, necessitates robust strategies for securing broad insurance coverage and favorable reimbursement rates. Without strong market adoption and adequate reimbursement, patient access and commercial penetration could be significantly limited.
AI Analysis | Feedback
nullAI Analysis | Feedback
The addressable market for Neuraxis's IB-Stim therapy, which targets functional abdominal pain associated with Irritable Bowel Syndrome (IBS) in adolescents aged 11-18, is estimated to be between 1.7 million and 5.1 million individuals in the U.S.
This market size is derived from an estimated U.S. adolescent population (11-18 years old) of approximately 34.3 million.
The prevalence of IBS in U.S. adolescents ranges from a conservative estimate of 5% in children aged 4 to 18 years old to a higher estimate of up to 15% for children and adolescents. Another study indicated that approximately 14% of high school students, which aligns with the older end of the 11-18 age group, were suggested to have IBS.
AI Analysis | Feedback
Neuraxis (NRXS) is poised for future revenue growth over the next 2-3 years, driven by several key factors:
- Enhanced Reimbursement and Market Access through Category 1 CPT Code: The implementation of a Category 1 CPT code for Percutaneous Electrical Nerve Field Stimulation (PENFS) procedures, effective January 1, 2026, is expected to significantly enhance revenue. This transition will allow for full reimbursement with insurance coverage, moving away from currently discounted device sales, and is anticipated to improve gross margins and drive stronger growth for IB-Stim in 2026 and beyond.
- Expansion of IB-Stim's FDA Label and Addressable Market: Neuraxis has secured FDA clearance to expand the IB-Stim's indication to a broader pediatric age range (8-21 years, up from 11-18 years) and for the treatment of pediatric Functional Dyspepsia (FD) and associated nausea symptoms. This expansion substantially increases the total addressable market for IB-Stim, allowing the company to reach a larger patient population.
- Targeting New Patient Populations, including Adult and VA Markets: Beyond its core pediatric focus, Neuraxis is actively pursuing the adult and Veterans Affairs (VA) markets. The company's commercialization strategy for IB-Stim now includes both pediatric and adult patient populations, leveraging its expanded product indications and neuromodulation technology to enter these new customer segments.
- Increased Adoption and Unit Deliveries within Existing and Expanding Markets: Neuraxis has demonstrated consistent revenue growth driven by a notable increase in unit deliveries, reflecting growing acceptance and utilization of IB-Stim among healthcare providers and patients. The company's ongoing commercialization strategy aims to further expand medical policy coverage and accelerate the adoption of IB-Stim, leading to continued volume growth.
- Introduction and Commercialization of New Products like the RED Device: The company has received 510(k) clearance from the FDA for its rectal expulsion device (RED) product. While its initial launch experienced a slower ramp-up, the RED device represents a new product line aimed at simplifying anorectal function testing in adult patients, offering an additional avenue for revenue growth, particularly as Neuraxis expands into adult markets.
AI Analysis | Feedback
Share Issuance
- In May 2025, Neuraxis completed a registered direct offering, generating approximately $5.0 million in gross proceeds from the sale of 1,538,461 shares of its common stock at $3.25 per share.
- The company further strengthened its liquidity in October 2025 by raising an additional $2.8 million through an at-the-market equity offering and warrant exercises.
- As of February 27, 2026, Neuraxis had 10.7 million shares outstanding, an increase from 6,594,897 shares as of April 12, 2024.
Inbound Investments
- Neuraxis secured approximately $5.0 million in May 2025 through a registered direct offering, which, combined with over $1 million from warrant exercises, was intended to strengthen its balance sheet and provide growth capital.
- An additional $2.8 million was raised in October 2025 through an at-the-market equity offering and warrant exercises, further improving the company's liquidity position.
Capital Expenditures
- Neuraxis plans to increase its research and development (R&D) investments in 2026 to support the expansion of its indications and explore opportunities in the adult market.
- The company is actively investing in ongoing clinical studies, with 16 peer-reviewed publications supporting its PENFS technology.
- Development of a second-generation IB-Stim device is underway, with a targeted release in 2026, focusing on enhancements such as user feedback indicators and potential diagnostic capabilities.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Neuraxis Earnings Notes | 12/16/2025 | |
| Is Neuraxis Stock Built to Withstand More Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to NRXS.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02282026 | QDEL | QuidelOrtho | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 02272026 | CHE | Chemed | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 02272026 | LLY | Eli Lilly | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 02202026 | HAE | Haemonetics | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
| 02132026 | IQV | IQVIA | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 7.1% | 7.1% | -3.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 10.12 |
| Mkt Cap | 0.3 |
| Rev LTM | 125 |
| Op Inc LTM | -10 |
| FCF LTM | -7 |
| FCF 3Y Avg | -8 |
| CFO LTM | -7 |
| CFO 3Y Avg | -8 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 26.2% |
| Rev Chg 3Y Avg | 31.0% |
| Rev Chg Q | 25.5% |
| QoQ Delta Rev Chg LTM | 5.8% |
| Op Mgn LTM | -18.7% |
| Op Mgn 3Y Avg | -32.5% |
| QoQ Delta Op Mgn LTM | 3.2% |
| CFO/Rev LTM | -12.3% |
| CFO/Rev 3Y Avg | -27.3% |
| FCF/Rev LTM | -12.8% |
| FCF/Rev 3Y Avg | -28.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.3 |
| P/S | 2.0 |
| P/EBIT | -6.7 |
| P/E | -6.6 |
| P/CFO | -5.4 |
| Total Yield | -8.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -13.1% |
| D/E | 0.1 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -10.5% |
| 3M Rtn | -5.4% |
| 6M Rtn | 17.3% |
| 12M Rtn | 1.7% |
| 3Y Rtn | 10.4% |
| 1M Excs Rtn | -4.3% |
| 3M Excs Rtn | 2.6% |
| 6M Excs Rtn | 23.5% |
| 12M Excs Rtn | -18.2% |
| 3Y Excs Rtn | -33.1% |
Price Behavior
Price Behavior
| Market Price | $6.90 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 08/09/2023 | |
| Distance from 52W High | -9.4% | |
| 50 Days | 200 Days | |
| DMA Price | $5.55 | $3.51 |
| DMA Trend | up | up |
| Distance from DMA | 24.2% | 96.6% |
| 3M | 1YR | |
| Volatility | 73.7% | 115.3% |
| Downside Capture | -0.36 | 0.41 |
| Upside Capture | 284.59 | 175.06 |
| Correlation (SPY) | 15.3% | 18.1% |
NRXS Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.62 | 0.98 | 1.51 | 1.47 | 0.98 | -0.18 |
| Up Beta | -2.03 | -0.15 | 2.00 | 0.76 | 1.09 | -0.05 |
| Down Beta | 1.64 | 0.95 | 0.96 | 1.89 | 1.10 | 0.49 |
| Up Capture | 543% | 331% | 518% | 351% | 173% | 57% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 13 | 23 | 36 | 64 | 115 | 293 |
| Down Capture | 45% | -29% | -110% | 33% | 50% | 101% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 6 | 16 | 22 | 54 | 123 | 309 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NRXS | |
|---|---|---|---|---|
| NRXS | 187.7% | 114.4% | 1.37 | - |
| Sector ETF (XLV) | 0.3% | 17.6% | -0.13 | 11.4% |
| Equity (SPY) | 14.5% | 18.9% | 0.59 | 18.6% |
| Gold (GLD) | 50.2% | 27.7% | 1.46 | 9.2% |
| Commodities (DBC) | 17.8% | 17.6% | 0.85 | 12.5% |
| Real Estate (VNQ) | 0.4% | 16.4% | -0.15 | 10.6% |
| Bitcoin (BTCUSD) | -23.7% | 44.2% | -0.49 | 15.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NRXS | |
|---|---|---|---|---|
| NRXS | 0.9% | 101.3% | 0.44 | - |
| Sector ETF (XLV) | 6.0% | 14.5% | 0.23 | 9.4% |
| Equity (SPY) | 11.8% | 17.0% | 0.54 | 15.4% |
| Gold (GLD) | 20.7% | 17.7% | 0.96 | 5.3% |
| Commodities (DBC) | 11.6% | 18.9% | 0.50 | 3.2% |
| Real Estate (VNQ) | 3.0% | 18.8% | 0.07 | 8.7% |
| Bitcoin (BTCUSD) | 4.0% | 56.6% | 0.29 | 10.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NRXS | |
|---|---|---|---|---|
| NRXS | 0.4% | 101.3% | 0.44 | - |
| Sector ETF (XLV) | 9.7% | 16.5% | 0.48 | 9.4% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 15.4% |
| Gold (GLD) | 13.3% | 15.8% | 0.70 | 5.3% |
| Commodities (DBC) | 8.2% | 17.6% | 0.39 | 3.2% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 8.7% |
| Bitcoin (BTCUSD) | 66.4% | 66.8% | 1.06 | 10.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/12/2024 | 26.4% | 24.0% | 3.2% |
| 8/9/2024 | 9.1% | 10.0% | 10.2% |
| 4/9/2024 | -0.3% | 2.2% | 2.9% |
| 9/21/2023 | 2.4% | 15.6% | -19.3% |
| SUMMARY STATS | |||
| # Positive | 3 | 4 | 3 |
| # Negative | 1 | 0 | 1 |
| Median Positive | 9.1% | 12.8% | 3.2% |
| Median Negative | -0.3% | -19.3% | |
| Max Positive | 26.4% | 24.0% | 10.2% |
| Max Negative | -0.3% | -19.3% | |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/19/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/20/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/20/2024 | 10-Q |
| 12/31/2023 | 04/16/2024 | 10-K |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 09/22/2023 | 10-Q |
| 03/31/2023 | 08/11/2023 | 424B4 |
| 09/30/2022 | 01/26/2023 | S-1/A |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Aharon, Gil | Rosalind Advisors, Inc., the advisor to the Rosalind Master Fund L.P. | Buy | 12292025 | 3.52 | 286,138 | 1,007,206 | 1,007,206 | Form | |
| 2 | Masimo, Corp | Direct | Sell | 7032025 | 2.25 | 821,327 | Form | |||
| 3 | Hannasch, Brian | Direct | Buy | 7022025 | 2.25 | 355,556 | 800,001 | 2,545,924 | Form | |
| 4 | Hannasch, Brian | Direct | Buy | 4232025 | 1.73 | 18,065 | 31,251 | 1,342,344 | Form | |
| 5 | Hannasch, Brian | Direct | Buy | 2132026 | 4.65 | 40,000 | 186,000 | 5,447,577 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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