Nurix Therapeutics (NASDAQ:NRIX) Sees Strong Trading Volume

Nurix Therapeutics, Inc. (NASDAQ:NRIX) saw strong trading volume on Tuesday . 610,566 shares were traded during mid-day trading, a decline of 37% from the previous session’s volume of 975,925 shares.The stock last traded at $20.32 and had previously closed at $20.73.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NRIX. JPMorgan Chase & Co. upped their price objective on Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Stifel Nicolaus reissued a “buy” rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a report on Wednesday, May 15th. Barclays raised their price target on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Truist Financial initiated coverage on Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Robert W. Baird increased their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Nurix Therapeutics Trading Up 4.6 %

The business has a 50-day moving average price of $19.43 and a 200 day moving average price of $15.02. The stock has a market capitalization of $1.07 billion, a P/E ratio of -7.10 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data 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). The company had revenue of $12.09 million during the quarter, compared to the consensus estimate of $19.35 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 5,760 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.43, for a total value of $123,436.80. Following the completion of the sale, the insider now owns 24,592 shares of the company’s stock, valued at $527,006.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Christine Ring sold 5,760 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.43, for a total transaction of $123,436.80. Following the completion of the sale, the insider now owns 24,592 shares of the company’s stock, valued at $527,006.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gwenn Hansen sold 3,408 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $70,443.36. Following the completion of the transaction, the insider now directly owns 45,150 shares in the company, valued at approximately $933,250.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,791 shares of company stock worth $506,063. 7.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Large investors have recently bought and sold shares of the business. Redmile Group LLC raised its holdings in Nurix Therapeutics by 37.7% in the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after acquiring an additional 1,226,497 shares during the last quarter. Affinity Asset Advisors LLC grew its position in shares of Nurix Therapeutics by 176.0% in the fourth quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company’s stock valued at $7,122,000 after purchasing an additional 440,112 shares in the last quarter. Ikarian Capital LLC acquired a new stake in shares of Nurix Therapeutics in the first quarter valued at approximately $4,410,000. Candriam S.C.A. lifted its position in Nurix Therapeutics by 30.5% during the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after buying an additional 272,136 shares in the last quarter. Finally, Opaleye Management Inc. acquired a new position in Nurix Therapeutics during the first quarter worth $3,928,000.

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.