Nurix Therapeutics (NASDAQ:NRIX) Trading 7.3% Higher – Still a Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX) traded up 7.3% during trading on Monday . The company traded as high as $16.81 and last traded at $16.6440. 565,012 shares were traded during mid-day trading, a decline of 51% from the average session volume of 1,142,631 shares. The stock had previously closed at $15.51.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lifted their target price on Nurix Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Piper Sandler raised their price target on shares of Nurix Therapeutics from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective on shares of Nurix Therapeutics in a report on Thursday, January 29th. Royal Bank Of Canada increased their target price on shares of Nurix Therapeutics from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.54.

Nurix Therapeutics Trading Up 3.9%

The stock has a market capitalization of $1.67 billion, a P/E ratio of -5.29 and a beta of 1.97. The business has a 50-day moving average price of $15.89 and a two-hundred day moving average price of $15.11.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Wednesday, January 28th. The company reported ($0.82) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.02. Nurix Therapeutics had a negative return on equity of 57.51% and a negative net margin of 314.90%.The company had revenue of $13.58 million for the quarter, compared to analysts’ expectations of $13.41 million. On average, sell-side analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Gwenn Hansen sold 4,895 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $16.60, for a total transaction of $81,257.00. Following the sale, the insider owned 83,672 shares in the company, valued at approximately $1,388,955.20. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Houte Hans Van sold 3,661 shares of Nurix Therapeutics stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $16.60, for a total transaction of $60,772.60. Following the completion of the transaction, the chief financial officer directly owned 45,427 shares in the company, valued at $754,088.20. This trade represents a 7.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its stake in shares of Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock valued at $29,000 after purchasing an additional 1,190 shares during the last quarter. Intesa Sanpaolo Wealth Management acquired a new stake in Nurix Therapeutics in the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in Nurix Therapeutics in the fourth quarter valued at about $33,000. Wexford Capital LP bought a new position in Nurix Therapeutics in the third quarter valued at about $41,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Nurix Therapeutics by 66.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,926 shares of the company’s stock valued at $93,000 after acquiring an additional 1,970 shares during the last quarter.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.