Nurix Therapeutics (NASDAQ:NRIX) Stock Price Up 3.9% – Here’s What Happened

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares were up 3.9% during mid-day trading on Tuesday . The stock traded as high as $22.72 and last traded at $22.38. Approximately 81,975 shares were traded during trading, a decline of 91% from the average daily volume of 878,488 shares. The stock had previously closed at $21.54.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada raised their price target on Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Needham & Company LLC decreased their target price on shares of Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Robert W. Baird assumed coverage on shares of Nurix Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $26.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Truist Financial initiated coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Nurix Therapeutics Trading Up 2.6 %

The company has a 50-day moving average price of $23.18 and a two-hundred day moving average price of $19.03. The stock has a market capitalization of $1.09 billion, a P/E ratio of -7.38 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The company had revenue of $12.09 million for the quarter, compared to the consensus estimate of $19.35 million. Research analysts forecast that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,490 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the sale, the chief financial officer now owns 54,479 shares in the company, valued at approximately $1,126,080.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Houte Hans Van sold 2,490 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $51,468.30. Following the completion of the sale, the chief financial officer now directly owns 54,479 shares of the company’s stock, valued at $1,126,080.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christine Ring sold 9,870 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.01, for a total value of $246,848.70. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $615,045.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,815 shares of company stock valued at $1,424,931. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Redmile Group LLC lifted its holdings in Nurix Therapeutics by 37.7% during the first quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock worth $65,900,000 after acquiring an additional 1,226,497 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Nurix Therapeutics during the 2nd quarter valued at $26,778,000. Candriam S.C.A. raised its stake in shares of Nurix Therapeutics by 30.5% during the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after purchasing an additional 272,136 shares during the period. Affinity Asset Advisors LLC grew its position in Nurix Therapeutics by 12.6% during the second quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock valued at $19,033,000 after buying an additional 101,747 shares during the period. Finally, Millennium Management LLC increased its holdings in Nurix Therapeutics by 60.2% during the second quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock worth $12,514,000 after buying an additional 225,374 shares during the last quarter.

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.