Nurix Therapeutics (NASDAQ:NRIX) Trading 4.4% Higher After Analyst Upgrade

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price traded up 4.4% during mid-day trading on Tuesday after HC Wainwright raised their price target on the stock from $19.00 to $26.00. HC Wainwright currently has a buy rating on the stock. Nurix Therapeutics traded as high as $16.38 and last traded at $15.96. 539,025 shares changed hands during trading, a decline of 43% from the average session volume of 939,602 shares. The stock had previously closed at $15.29.

NRIX has been the topic of a number of other research reports. Royal Bank of Canada raised their price objective on Nurix Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Nurix Therapeutics in a research note on Wednesday, June 5th. JPMorgan Chase & Co. raised their target price on Nurix Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday. Morgan Stanley raised their target price 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. Finally, Robert W. Baird raised their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.80.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of Nurix Therapeutics stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $17.01, for a total value of $27,147.96. Following the completion of the transaction, the insider now directly owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Houte Hans Van sold 3,499 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total value of $44,892.17. Following the sale, the chief financial officer now 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 can be accessed through this hyperlink. Also, insider Christine Ring sold 1,596 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.01, for a total transaction of $27,147.96. Following the completion of the sale, the insider now directly owns 19,838 shares in the company, valued at approximately $337,444.38. The disclosure for this sale can be found here. Insiders sold a total of 10,789 shares of company stock valued at $152,023 in the last three months. 9.80% of the stock is owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently added to or reduced their stakes in NRIX. Redmile Group LLC raised its holdings in Nurix Therapeutics by 37.7% in the first quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after acquiring an additional 1,226,497 shares in the last quarter. ARK Investment Management LLC raised its holdings in Nurix Therapeutics by 23.2% during the fourth quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock worth $32,972,000 after purchasing an additional 601,952 shares in the last quarter. Affinity Asset Advisors LLC raised its holdings in Nurix Therapeutics by 176.0% during the fourth quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company’s stock worth $7,122,000 after purchasing an additional 440,112 shares in the last quarter. Ikarian Capital LLC acquired a new stake in Nurix Therapeutics during the first quarter worth approximately $4,410,000. Finally, Opaleye Management Inc. acquired a new stake in Nurix Therapeutics during the first quarter worth approximately $3,928,000.

Nurix Therapeutics Stock Up 6.0 %

The business’s fifty day simple moving average is $14.92 and its two-hundred day simple moving average is $12.11. The company has a market cap of $796.72 million, a price-to-earnings ratio of -5.75 and a beta of 2.17.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.04. The business had revenue of $16.59 million for the quarter, compared to analysts’ expectations of $14.58 million. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. Sell-side analysts predict that Nurix Therapeutics, Inc. will post -3 EPS for the current fiscal year.

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.