Nurix Therapeutics (NASDAQ:NRIX) Trading Up 4.4% – What’s Next?

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares shot up 4.4% during mid-day trading on Thursday . The stock traded as high as $14.32 and last traded at $14.52. 77,123 shares were traded during mid-day trading, a decline of 91% from the average session volume of 855,801 shares. The stock had previously closed at $13.90.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NRIX shares. Royal Bank of Canada boosted their target price on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Needham & Company LLC dropped their price target on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley lifted their target price on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $31.00 target price on shares of Nurix Therapeutics in a report on Tuesday, January 21st. Finally, Leerink Partners started coverage on Nurix Therapeutics in a research report on Monday. They issued a “market perform” rating and a $16.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Nurix Therapeutics Stock Performance

The company has a market cap of $1.08 billion, a price-to-earnings ratio of -4.90 and a beta of 2.18. The company’s 50 day moving average price is $17.22 and its 200 day moving average price is $20.93.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. On average, equities research analysts forecast that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Houte Hans Van sold 5,825 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.49, for a total value of $84,404.25. Following the transaction, the chief financial officer now owns 33,724 shares of the company’s stock, valued at $488,660.76. This trade represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the sale, the insider now directly owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,326 shares of company stock worth $213,449. 7.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors have recently made changes to their positions in the business. US Bancorp DE grew its holdings in Nurix Therapeutics by 144.7% in the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after buying an additional 842 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Nurix Therapeutics in the fourth quarter valued at approximately $28,000. Quarry LP grew its stake in shares of Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after acquiring an additional 2,435 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Nurix Therapeutics during the fourth quarter worth $87,000. Finally, Summit Investment Advisors Inc. raised its stake in Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock valued at $138,000 after purchasing an additional 877 shares during the last quarter.

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.