Nurix Therapeutics (NASDAQ:NRIX) Shares Up 4.5%

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial started coverage on Nurix Therapeutics in a report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price target for the company. Royal Bank of Canada lifted their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. JPMorgan Chase & Co. lifted their price target on Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Needham & Company LLC dropped their target price on shares of Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating for the company in a report on Friday, July 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Nurix Therapeutics in a report on Wednesday, June 5th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to 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 firm has a fifty day moving average of $22.60 and a 200 day moving average of $17.93. The firm has a market capitalization of $1.25 billion, a PE ratio of -8.63 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) earnings per share (EPS) 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%. Research analysts forecast that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Christine Ring sold 9,050 shares of Nurix Therapeutics stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $24.94, for a total transaction of $225,707.00. Following the sale, the insider now directly owns 24,592 shares in the company, valued at approximately $613,324.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gwenn Hansen sold 3,408 shares of Nurix Therapeutics stock in a transaction dated Tuesday, July 30th. The stock was 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 directly owns 45,150 shares in the company, valued at $933,250.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine Ring sold 9,050 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $24.94, for a total value of $225,707.00. Following the sale, the insider now owns 24,592 shares in the company, valued at approximately $613,324.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,815 shares of company stock worth $1,416,751. 7.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Quest Partners LLC bought a new position in Nurix Therapeutics during the fourth quarter worth $59,000. GAMMA Investing LLC lifted its position in shares of Nurix Therapeutics by 299.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after buying an additional 3,424 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Nurix Therapeutics in the 1st quarter valued at about $123,000. China Universal Asset Management Co. Ltd. grew its position in shares of Nurix Therapeutics by 67.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock valued at $138,000 after buying an additional 3,793 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Nurix Therapeutics during the fourth quarter worth about $158,000.

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.