Nurix Therapeutics (NASDAQ:NRIX) Hits New 1-Year High at $26.26

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $26.26 and last traded at $25.67, with a volume of 458257 shares changing hands. The stock had previously closed at $24.83.

Wall Street Analyst Weigh In

NRIX has been the subject of a number of research reports. Needham & Company LLC cut their target price on shares of Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada boosted their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Robert W. Baird assumed coverage on Nurix Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and set a $35.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, June 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.00.

Nurix Therapeutics Trading Down 0.4 %

The company has a market cap of $1.22 billion, a P/E ratio of -8.83 and a beta of 2.23. The business’s 50 day simple moving average is $22.78 and its 200 day simple moving average is $18.10.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Thursday, July 11th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). The firm had revenue of $12.09 million for the quarter, compared to analysts’ expectations of $19.35 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. Sell-side analysts anticipate that Nurix Therapeutics, Inc. will post -2.95 EPS for the current year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 20,000 shares of the firm’s 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 owns 31,002 shares of the company’s stock, valued at $781,870.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Gwenn Hansen sold 3,408 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $70,443.36. Following the transaction, the insider now owns 45,150 shares of the company’s stock, valued at approximately $933,250.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the completion of the sale, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at $781,870.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,815 shares of company stock valued at $1,416,751. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in Nurix Therapeutics by 299.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock valued at $95,000 after purchasing an additional 3,424 shares in the last quarter. Quest Partners LLC purchased a new position in Nurix Therapeutics during the 4th quarter valued at about $59,000. EntryPoint Capital LLC bought a new stake in shares of Nurix Therapeutics in the 1st quarter valued at about $123,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Nurix Therapeutics by 67.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock worth $138,000 after purchasing an additional 3,793 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in Nurix Therapeutics during the second quarter valued at approximately $201,000.

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.