Nurix Therapeutics (NASDAQ:NRIX) Shares Up 4.5%

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) rose 4.5% on Monday . The company traded as high as $26.08 and last traded at $25.92. Approximately 47,681 shares were traded during trading, a decline of 95% from the average daily volume of 897,871 shares. The stock had previously closed at $24.80.

Wall Street Analyst Weigh In

NRIX has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Oppenheimer raised their price objective on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. HC Wainwright upped their target price on Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Robert W. Baird initiated coverage on Nurix Therapeutics in a research note on Friday, September 6th. They set an “outperform” rating and a $26.00 price target for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, June 5th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Nurix Therapeutics Stock Performance

The company has a fifty day simple moving average of $22.78 and a two-hundred day simple moving average of $18.10. The firm has a market capitalization of $1.27 billion, a PE ratio of -8.66 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data 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 business had revenue of $12.09 million during the quarter, compared to analysts’ expectations of $19.35 million. Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. On average, equities analysts anticipate that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Gwenn Hansen sold 3,408 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $70,443.36. Following the completion of the transaction, the insider now owns 45,150 shares of the company’s stock, valued at $933,250.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Houte Hans Van sold 2,490 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 $51,468.30. Following the sale, the chief financial officer now directly owns 54,479 shares in the company, valued at approximately $1,126,080.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gwenn Hansen sold 3,408 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,815 shares of company stock worth $1,416,751. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of NRIX. Redmile Group LLC lifted its holdings in shares of Nurix Therapeutics by 37.7% during the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after purchasing an additional 1,226,497 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in Nurix Therapeutics during the 2nd quarter valued at about $26,778,000. Candriam S.C.A. raised its stake in Nurix Therapeutics by 30.5% in the second quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock valued at $24,297,000 after buying an additional 272,136 shares during the last quarter. Affinity Asset Advisors LLC raised its stake in Nurix Therapeutics by 12.6% in the second quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock valued at $19,033,000 after buying an additional 101,747 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Nurix Therapeutics by 9.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 622,297 shares of the company’s stock worth $6,422,000 after acquiring an additional 53,721 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.