Nurix Therapeutics (NASDAQ:NRIX) Shares Up 3.9% – Still a Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price shot up 3.9% during trading on Wednesday . The stock traded as high as $19.73 and last traded at $19.63. 425,420 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 516,040 shares. The stock had previously closed at $18.90.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NRIX shares. BMO Capital Markets began coverage on shares of Nurix Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $35.00 price target for the company. Stephens restated an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. Jefferies Financial Group assumed coverage on Nurix Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $41.00 price objective for the company. Finally, UBS Group started coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.35.

Nurix Therapeutics Trading Up 3.2 %

The stock has a market capitalization of $1.38 billion, a PE ratio of -6.70 and a beta of 2.14. The stock has a 50 day moving average price of $22.01 and a 200-day moving average price of $22.55.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The business had revenue of $12.59 million for the quarter, compared to analysts’ expectations of $13.85 million. Research analysts forecast that Nurix Therapeutics, Inc. will post -2.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 3,546 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $24.28, for a total value of $86,096.88. Following the transaction, the chief financial officer now owns 33,724 shares of the company’s stock, valued at $818,818.72. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gwenn Hansen sold 3,437 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $83,519.10. Following the transaction, the insider now owns 50,670 shares of the company’s stock, valued at approximately $1,231,281. This trade represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,641 shares of company stock worth $309,408. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in shares of Nurix Therapeutics by 8.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,482,105 shares of the company’s stock valued at $78,243,000 after purchasing an additional 280,240 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Nurix Therapeutics by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,448,040 shares of the company’s stock worth $32,544,000 after acquiring an additional 126,306 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Nurix Therapeutics in the second quarter valued at $26,778,000. Affinity Asset Advisors LLC increased its position in Nurix Therapeutics by 12.6% in the second quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock worth $19,033,000 after purchasing an additional 101,747 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Nurix Therapeutics by 60.2% during the second quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock valued at $12,514,000 after purchasing an additional 225,374 shares in 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.