Nurix Therapeutics (NASDAQ:NRIX) Trading Up 4.4% on Analyst Upgrade

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares were up 4.4% on Tuesday after HC Wainwright raised their price target on the stock from $19.00 to $26.00. HC Wainwright currently has a buy rating on the stock. Nurix Therapeutics traded as high as $16.38 and last traded at $15.96. Approximately 539,025 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 939,602 shares. The stock had previously closed at $15.29.

A number of other brokerages have also recently commented on NRIX. Stephens initiated coverage on shares of Nurix Therapeutics in a research report on Tuesday, May 14th. They set an “overweight” rating and a $20.00 price target on the stock. Morgan Stanley raised their price target on Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Monday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $27.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada raised their price target on Nurix Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the completion of the sale, the chief financial officer now directly owns 68,333 shares in the company, valued at approximately $876,712.39. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Christine Ring sold 1,900 shares of the business’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 transaction of $32,319.00. Following the completion of the transaction, the insider now directly owns 19,838 shares in the company, valued at approximately $337,444.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Houte Hans Van sold 3,499 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total value of $44,892.17. Following the transaction, the chief financial officer now owns 68,333 shares of the company’s stock, valued at $876,712.39. The disclosure for this sale can be found here. Insiders sold a total of 10,789 shares of company stock worth $152,023 in the last three months. 9.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NRIX. Charles Schwab Investment Management Inc. grew its stake in shares of Nurix Therapeutics by 48.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 568,576 shares of the company’s stock valued at $4,469,000 after acquiring an additional 184,617 shares during the period. Hsbc Holdings PLC boosted its stake in Nurix Therapeutics by 40.0% in the 3rd quarter. Hsbc Holdings PLC now owns 48,065 shares of the company’s stock worth $377,000 after purchasing an additional 13,736 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Nurix Therapeutics by 40.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 183,923 shares of the company’s stock worth $1,446,000 after purchasing an additional 53,429 shares during the period. Trexquant Investment LP boosted its stake in Nurix Therapeutics by 57.7% in the 3rd quarter. Trexquant Investment LP now owns 88,066 shares of the company’s stock worth $692,000 after purchasing an additional 32,212 shares during the period. Finally, Affinity Asset Advisors LLC boosted its stake in Nurix Therapeutics by 150.0% in the 3rd quarter. Affinity Asset Advisors LLC now owns 250,000 shares of the company’s stock worth $1,965,000 after purchasing an additional 150,000 shares during the period.

Nurix Therapeutics Trading Up 20.6 %

The firm has a market capitalization of $906.33 million, a P/E ratio of -6.93 and a beta of 2.17. The company has a 50 day simple moving average of $14.94 and a two-hundred day simple moving average of $12.20.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Wednesday, April 10th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.04. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. The business had revenue of $16.59 million during the quarter, compared to the consensus estimate of $14.58 million. On average, sell-side analysts expect that Nurix Therapeutics, Inc. will post -3 EPS for the current fiscal year.

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.