Nurix Therapeutics (NASDAQ:NRIX) Trading 4.4% Higher – Time to Buy?

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) rose 4.4% on Thursday . The company traded as high as $14.32 and last traded at $14.52. Approximately 77,123 shares were traded during trading, a decline of 91% from the average daily volume of 855,801 shares. The stock had previously closed at $13.90.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NRIX. BMO Capital Markets assumed coverage on Nurix Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $35.00 price target on the stock. Royal Bank of Canada upped their target price on Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Morgan Stanley lifted their price target on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Leerink Partnrs raised shares of Nurix Therapeutics to a “hold” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Nurix Therapeutics Price Performance

The firm has a 50 day moving average price of $17.22 and a 200-day moving average price of $20.93. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -4.90 and a beta of 2.18.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. On average, sell-side analysts expect that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,690 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $73,246.50. Following the sale, the insider now directly owns 55,937 shares in the company, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Houte Hans Van sold 5,825 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.49, for a total transaction of $84,404.25. Following the transaction, the chief financial officer now owns 33,724 shares of the company’s stock, valued at approximately $488,660.76. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,326 shares of company stock worth $213,449. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds have recently bought and sold shares of the company. US Bancorp DE increased its position in shares of Nurix Therapeutics by 144.7% in the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after buying an additional 842 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Nurix Therapeutics in the fourth quarter valued at about $28,000. Quarry LP increased its holdings in shares of Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after acquiring an additional 2,435 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $87,000. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock valued at $138,000 after purchasing an additional 877 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.