Nurix Therapeutics (NASDAQ:NRIX) Sets New 1-Year High at $22.64

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $22.64 and last traded at $22.31, with a volume of 348866 shares traded. The stock had previously closed at $20.24.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Stephens initiated coverage on shares of Nurix Therapeutics in a report on Tuesday, May 14th. They set an “overweight” rating and a $20.00 target price for the company. Royal Bank of Canada raised their price objective on shares of Nurix Therapeutics from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Robert W. Baird upped their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Piper Sandler reissued an “overweight” rating and set a $35.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, June 5th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $27.00 price target on shares of Nurix Therapeutics in a report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $25.10.

Nurix Therapeutics Stock Up 8.8 %

The company has a 50 day moving average of $16.91 and a 200 day moving average of $13.46. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -8.21 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.04. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The company had revenue of $16.59 million during the quarter, compared to the consensus estimate of $14.58 million. On average, research analysts forecast that Nurix Therapeutics, Inc. will post -2.85 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, insider Christine Ring sold 5,760 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.81, for a total value of $119,865.60. Following the transaction, the insider now directly owns 19,838 shares of the company’s stock, valued at approximately $412,828.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total transaction of $44,892.17. Following the transaction, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at $876,712.39. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christine Ring sold 5,760 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.81, for a total transaction of $119,865.60. Following the completion of the sale, the insider now directly owns 19,838 shares of the company’s stock, valued at approximately $412,828.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,549 shares of company stock worth $271,888. 9.80% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

A number of institutional investors have recently added to or reduced their stakes in NRIX. Massachusetts Financial Services Co. MA raised its position in Nurix Therapeutics by 248.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 142,146 shares of the company’s stock valued at $1,467,000 after purchasing an additional 101,320 shares during the period. Trexquant Investment LP raised its holdings in shares of Nurix Therapeutics by 80.9% during the 4th quarter. Trexquant Investment LP now owns 159,318 shares of the company’s stock valued at $1,644,000 after buying an additional 71,252 shares during the period. Affinity Asset Advisors LLC lifted its position in Nurix Therapeutics by 176.0% during the 4th quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company’s stock worth $7,122,000 after acquiring an additional 440,112 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Nurix Therapeutics by 351.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock worth $58,000 after acquiring an additional 4,367 shares in the last quarter. Finally, ARK Investment Management LLC boosted its holdings in Nurix Therapeutics by 23.2% in the 4th quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock worth $32,972,000 after acquiring an additional 601,952 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.