Autonomix Medical Inc. (NASDAQ:AMIX) shares climbed 54.36% to $4.24 after the bell on Tuesday.
The rally in the late trading session follows an intraday decline of 1.43%, with the stock closing at $2.75, according to Benzinga Pro data.
Volume Surges Past 24 Times Average
The stock of the Texas-based medical device company experienced an exceptionally elevated trading session on Tuesday. Volume reached 10.60 million shares, more than 24.14 times the stock’s average daily volume of 439,140 shares. Short interest stands at 3.1%.
On Tuesday, Autonomix Medical, through a Securities and Exchange Commission filing, announced registering 857,462 shares for resale upon exercise of Series D common stock purchase warrants with an exercise price of $5.75 per share. The registration covers a maximum aggregate offering price of $3.72 million.
If fully exercised for cash, the warrants could generate up to $4.9 million in gross proceeds for the company.
In a separate Tuesday filing, Autonomix disclosed a cash balance of approximately $5.1 million and 971,043 shares outstanding as of Tuesday. According to the SEC filing, this reflects shares issued from its Jul. 13 warrant inducement.
Recent Preclinical Data
The filings follow a last week announcement in which Autonomix reported positive preclinical results showing its neural sensing platform could detect and confirm changes in renal nerve activity during ablation.
CEO Brad Hauser called the results a step toward a more “precise, data-driven approach to therapy” for resistant hypertension treatment.
Trading Metrics, Technical Analysis
Autonomix Medical has a market capitalization of approximately $1.49 million. Its stock has traded between a 52-week high of $32.55 and a 52-week low of $2.44.
AMIX’s Relative Strength Index (RSI) stands at 18.21.
Over the past 12 months, the share price has declined by 89.69%.
The small-cap stock is currently trading near its lowest level over the past 52 weeks.
AMIX’s steep decline and weak market position indicate that the stock may continue to face ongoing pressure.
Benzinga’s Edge Stock Rankings indicate AMIX stock has a negative price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Recent Comments