Nurix Therapeutics (NASDAQ:NRIX) Stock Price Up 4.6% – Here’s Why

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares rose 4.6% during trading on Monday . The stock traded as high as $24.72 and last traded at $24.72. Approximately 65,803 shares traded hands during trading, a decline of 93% from the average daily volume of 890,207 shares. The stock had previously closed at $23.63.

Analyst Upgrades and Downgrades

NRIX has been the subject of several research reports. HC Wainwright boosted their price target on Nurix Therapeutics from $19.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Truist Financial started coverage on Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 target price for the company. Robert W. Baird started coverage on Nurix Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $26.00 target price for the company. Stephens restated an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a report on Monday. Finally, Jefferies Financial Group started coverage on Nurix Therapeutics in a report on Friday. They issued a “buy” rating and a $41.00 target price for the company. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $28.71.

Nurix Therapeutics Stock Performance

The company has a 50 day moving average price of $23.27 and a 200 day moving average price of $19.28. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -8.66 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.67). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The firm had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. On average, research analysts forecast that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the transaction, the chief financial officer now owns 31,002 shares of the company’s stock, valued at approximately $781,870.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,408 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $70,443.36. Following the sale, the insider now owns 45,150 shares of the company’s stock, valued at $933,250.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Houte Hans Van sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.22, for a total value of $504,400.00. Following the completion of the sale, the chief financial officer now directly owns 31,002 shares in the company, valued at $781,870.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,815 shares of company stock valued at $1,424,931. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Redmile Group LLC increased its holdings in shares of 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. Driehaus Capital Management LLC purchased a new position in Nurix Therapeutics during the 2nd quarter worth approximately $26,778,000. Candriam S.C.A. grew its stake in Nurix Therapeutics by 30.5% during the 2nd 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 during the last quarter. Affinity Asset Advisors LLC grew its stake in Nurix Therapeutics by 12.6% during the 2nd quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock worth $19,033,000 after buying an additional 101,747 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Nurix Therapeutics by 60.2% during the 2nd quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock worth $12,514,000 after buying an additional 225,374 shares during 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.