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

Nurix Therapeutics, Inc. (NASDAQ:NRIX) was up 4.4% during 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. Approximately 539,025 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 939,602 shares. The stock had previously closed at $15.29.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird lifted their price objective on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Stephens began coverage on shares of Nurix Therapeutics in a research note on Tuesday, May 14th. They issued an “overweight” rating and a $20.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Nurix Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

Insiders Place Their Bets

In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of the business’s stock in a transaction 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 transaction, the insider now owns 19,838 shares of the company’s stock, valued at approximately $337,444.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Houte Hans Van sold 3,499 shares of the business’s stock in a transaction dated 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 owns 68,333 shares in the company, valued at approximately $876,712.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christine Ring sold 1,596 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $17.01, for a total transaction of $27,147.96. Following the transaction, the insider now 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 quarter. Insiders own 9.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in Nurix Therapeutics by 48.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 568,576 shares of the company’s stock valued at $4,469,000 after acquiring an additional 184,617 shares during the period. Hsbc Holdings PLC increased its stake in Nurix Therapeutics by 40.0% in the third quarter. Hsbc Holdings PLC now owns 48,065 shares of the company’s stock valued at $377,000 after acquiring an additional 13,736 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Nurix Therapeutics by 40.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 183,923 shares of the company’s stock valued at $1,446,000 after acquiring an additional 53,429 shares during the period. Trexquant Investment LP increased its stake in Nurix Therapeutics by 57.7% in the third quarter. Trexquant Investment LP now owns 88,066 shares of the company’s stock valued at $692,000 after acquiring an additional 32,212 shares during the period. Finally, Affinity Asset Advisors LLC increased its stake in Nurix Therapeutics by 150.0% in the third quarter. Affinity Asset Advisors LLC now owns 250,000 shares of the company’s stock valued at $1,965,000 after acquiring an additional 150,000 shares during the period.

Nurix Therapeutics Price Performance

The firm has a market cap of $906.33 million, a P/E ratio of -6.93 and a beta of 2.17. The stock’s 50 day moving average is $14.94 and its two-hundred day moving average is $12.20.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Wednesday, April 10th. The company reported ($0.76) earnings per share 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%. As a group, research analysts forecast 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.