Nurix Therapeutics (NASDAQ:NRIX) Shares Up 6.6%

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares rose 6.6% during mid-day trading on Tuesday . The stock traded as high as $14.14 and last traded at $14.09. Approximately 283,848 shares changed hands during trading, a decline of 70% from the average daily volume of 935,327 shares. The stock had previously closed at $13.22.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, April 9th. Morgan Stanley upped their price objective on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. HC Wainwright cut their target price on shares of Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Wells Fargo & Company lowered their price target on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Finally, Robert W. Baird boosted their price objective on Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Nurix Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $21.33.

Nurix Therapeutics Stock Up 7.1 %

The firm has a market cap of $695.96 million, a price-to-earnings ratio of -5.28 and a beta of 2.10. The stock’s 50-day moving average price is $13.90 and its 200 day moving average price is $10.04.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.04. The company had revenue of $16.59 million during the quarter, compared to the consensus estimate of $14.58 million. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. On average, research analysts predict that Nurix Therapeutics, Inc. will post -3.15 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 3,499 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 13,705 shares of company stock worth $154,012 over the last 90 days. Corporate insiders own 9.80% of the company’s stock.

Institutional Trading of Nurix Therapeutics

A number of large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Nurix Therapeutics by 27.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,904 shares of the company’s stock worth $454,000 after buying an additional 6,628 shares during the last quarter. J.W. Cole Advisors Inc. bought a new stake in Nurix Therapeutics during the 1st quarter worth approximately $265,000. China Universal Asset Management Co. Ltd. increased its holdings in 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 purchasing an additional 3,793 shares in the last quarter. Wellington Management Group LLP raised its position in Nurix Therapeutics by 41.6% in the 4th quarter. Wellington Management Group LLP now owns 205,324 shares of the company’s stock valued at $2,119,000 after purchasing an additional 60,271 shares during the last quarter. Finally, Pennant Investors LP bought a new stake in Nurix Therapeutics in the fourth quarter valued at approximately $586,000.

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.