Nurix Therapeutics (NASDAQ:NRIX) Now Covered by Truist Financial

Truist Financial began coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $36.00 price target on the stock.

NRIX has been the subject of a number of other research reports. Barclays raised their target price on Nurix Therapeutics from $20.00 to $31.00 and gave the company an overweight rating in a research note on Monday, July 15th. Stephens started coverage on Nurix Therapeutics in a research report on Tuesday, May 14th. They set an overweight rating and a $20.00 price objective for the company. Piper Sandler reaffirmed an overweight rating and issued a $35.00 target price on shares of Nurix Therapeutics in a research report on Wednesday, June 5th. Robert W. Baird lifted their price target on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Finally, Royal Bank of Canada boosted their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an outperform rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Nurix Therapeutics presently has a consensus rating of Moderate Buy and an average target price of $26.67.

Nurix Therapeutics Price Performance

Shares of Nurix Therapeutics stock opened at $20.78 on Wednesday. Nurix Therapeutics has a 12-month low of $4.22 and a 12-month high of $24.38. The company’s fifty day simple moving average is $19.32 and its two-hundred day simple moving average is $14.84.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Thursday, July 11th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.08). Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. The company had revenue of $12.09 million for the quarter, compared to analysts’ expectations of $19.35 million. On average, equities analysts expect that Nurix Therapeutics will post -2.86 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, insider Christine Ring sold 1,900 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $17.01, for a total value of $32,319.00. Following the transaction, the insider now directly owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Houte Hans Van sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $51,468.30. Following the sale, the chief financial officer now owns 54,479 shares of the company’s stock, valued at approximately $1,126,080.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christine Ring sold 1,900 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $17.01, for a total transaction of $32,319.00. Following the completion of the sale, the insider now owns 19,838 shares of the company’s stock, valued at $337,444.38. The disclosure for this sale can be found here. Insiders sold 24,791 shares of company stock valued at $506,063 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc purchased a new stake in Nurix Therapeutics during the 2nd quarter valued at $593,000. Rhumbline Advisers grew its holdings in shares of Nurix Therapeutics by 14.2% in the second quarter. Rhumbline Advisers now owns 88,781 shares of the company’s stock worth $1,853,000 after acquiring an additional 11,010 shares during the period. RAM Investment Partners LLC purchased a new stake in Nurix Therapeutics during the second quarter valued at $361,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Nurix Therapeutics by 762.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,207 shares of the company’s stock valued at $317,000 after acquiring an additional 13,444 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Nurix Therapeutics by 31.4% in the second quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company’s stock worth $4,365,000 after purchasing an additional 49,918 shares during the last quarter.

About Nurix Therapeutics

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.