Nurix Therapeutics (NASDAQ:NRIX) Stock Price Up 4.6% – Here’s Why

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price shot up 4.6% during mid-day trading on Monday . The company traded as high as $24.72 and last traded at $24.72. 65,803 shares changed hands during trading, a decline of 93% from the average session volume of 890,207 shares. The stock had previously closed at $23.63.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NRIX. Royal Bank of Canada dropped their price target on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday. Truist Financial started coverage on Nurix Therapeutics in a research note on Wednesday, July 31st. They issued a “buy” rating and a $36.00 target price on the stock. Oppenheimer lifted their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. HC Wainwright lifted 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. Finally, Barclays lifted their target price on Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

Nurix Therapeutics Stock Performance

The firm has a fifty day moving average price of $23.27 and a 200 day moving average price of $19.28. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -8.66 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting the consensus estimate of ($0.67). The business had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.85 million. Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. Research analysts predict that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 2,490 shares of Nurix Therapeutics stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the transaction, the chief financial officer now directly owns 54,479 shares of the company’s stock, valued at approximately $1,126,080.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,408 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 45,150 shares of the company’s stock, valued at approximately $933,250.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Houte Hans Van sold 2,490 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $51,468.30. Following the transaction, the chief financial officer now directly owns 54,479 shares of the company’s stock, valued at $1,126,080.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,815 shares of company stock valued at $1,424,931. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Nurix Therapeutics by 299.8% during the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after buying an additional 3,424 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Nurix Therapeutics in the first quarter valued at $123,000. China Universal Asset Management Co. Ltd. grew its position in shares of Nurix Therapeutics by 67.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock valued at $138,000 after purchasing an additional 3,793 shares during the period. ProShare Advisors LLC grew its position in shares of Nurix Therapeutics by 9.1% in the first quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock valued at $176,000 after purchasing an additional 998 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Nurix Therapeutics in the second quarter valued at $201,000.

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.