Nurix Therapeutics (NASDAQ:NRIX) Stock Price Up 6.4%

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares traded up 6.4% during mid-day trading on Wednesday . The stock traded as high as $12.84 and last traded at $12.79. 109,824 shares changed hands during trading, a decline of 88% from the average session volume of 936,348 shares. The stock had previously closed at $12.02.

Wall Street Analysts Forecast Growth

NRIX has been the subject of a number of recent research reports. Morgan Stanley increased their target price on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. HC Wainwright reduced their target price on shares of Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Wells Fargo & Company reduced their target price on shares of Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Needham & Company LLC restated a “buy” rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, April 9th. Finally, Robert W. Baird raised their price objective on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Nurix Therapeutics Stock Up 5.1 %

The stock has a market capitalization of $620.76 million, a price-to-earnings ratio of -4.52 and a beta of 2.06. The company’s 50-day moving average is $13.70 and its 200-day moving average is $9.83.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.26). The company had revenue of $15.16 million for the quarter, compared to analysts’ expectations of $30.66 million. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. Sell-side analysts anticipate that Nurix Therapeutics, Inc. will post -3.15 EPS for the current year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,812 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $10.02, for a total transaction of $68,256.24. Following the completion of the transaction, the chief financial officer now owns 68,333 shares of the company’s stock, valued at approximately $684,696.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 10,206 shares of company stock valued at $109,120. Company insiders own 9.80% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. lifted its holdings in Nurix Therapeutics by 351.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock worth $58,000 after buying an additional 4,367 shares in the last quarter. Quest Partners LLC acquired a new stake in Nurix Therapeutics during the 4th quarter worth approximately $59,000. International Assets Investment Management LLC acquired a new stake in Nurix Therapeutics during the 4th quarter worth approximately $1,175,000. Jump Financial LLC acquired a new stake in Nurix Therapeutics during the 4th quarter worth approximately $158,000. Finally, Principal Financial Group Inc. lifted its holdings in Nurix Therapeutics by 14.8% during the 3rd quarter. Principal Financial Group Inc. now owns 15,531 shares of the company’s stock worth $122,000 after buying an additional 2,002 shares in the last quarter.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.