Nurix Therapeutics (NASDAQ:NRIX) Trading Up 6.4%

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price was up 6.4% during trading on Wednesday . The stock traded as high as $12.84 and last traded at $12.79. Approximately 109,824 shares traded hands during trading, a decline of 88% from the average daily volume of 936,348 shares. The stock had previously closed at $12.02.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NRIX shares. Robert W. Baird upped their price target on Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Morgan Stanley upped their price target on Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Needham & Company LLC restated a “buy” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, April 9th. Royal Bank of Canada upped their price target on Nurix Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, HC Wainwright cut their price objective on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.33.

Nurix Therapeutics Price Performance

The business has a 50-day moving average price of $13.76 and a two-hundred day moving average price of $9.86.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.26). Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. The business had revenue of $15.16 million during the quarter, compared to analyst estimates of $30.66 million. As a group, sell-side analysts forecast that Nurix Therapeutics, Inc. will post -3.15 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 3,499 shares of Nurix Therapeutics stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total value of $44,892.17. Following the transaction, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at approximately $876,712.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 13,705 shares of company stock valued at $154,012. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Nurix Therapeutics by 14.8% in the 3rd quarter. Principal Financial Group Inc. now owns 15,531 shares of the company’s stock valued at $122,000 after purchasing an additional 2,002 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Nurix Therapeutics by 3.1% during the 4th quarter. Raymond James & Associates now owns 101,006 shares of the company’s stock valued at $1,042,000 after buying an additional 3,018 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings 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 period. Exchange Traded Concepts LLC raised its holdings in shares of Nurix Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock valued at $163,000 after buying an additional 4,012 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Nurix Therapeutics by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 145,053 shares of the company’s stock valued at $1,140,000 after buying an additional 4,163 shares during the period.

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.