Nurix Therapeutics (NASDAQ:NRIX) Trading 6.4% Higher – Here’s What Happened

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares rose 6.4% on Monday . The stock traded as high as $10.80 and last traded at $10.90. Approximately 298,846 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 879,344 shares. The stock had previously closed at $10.24.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley upped their target price on Nurix Therapeutics from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Stifel Nicolaus lowered their target price on Nurix Therapeutics from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Stephens restated an “overweight” rating and set a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $36.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.44.

Nurix Therapeutics Trading Up 6.3 %

The company has a 50 day moving average of $13.19 and a 200 day moving average of $18.73. The firm has a market cap of $829.45 million, a price-to-earnings ratio of -3.76 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05. The business had revenue of $18.45 million during the quarter, compared to analysts’ expectations of $12.78 million. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. During the same quarter last year, the company posted ($0.76) EPS. As a group, sell-side analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 2,811 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $55,798.35. Following the sale, the chief financial officer now owns 39,549 shares of the company’s stock, valued at $785,047.65. This represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the transaction, the insider now directly owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,326 shares of company stock worth $213,449. 7.40% of the stock is currently owned by insiders.

Institutional Trading of Nurix Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after acquiring an additional 842 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Nurix Therapeutics in the fourth quarter worth about $28,000. Aquatic Capital Management LLC acquired a new stake in Nurix Therapeutics during the 4th quarter worth approximately $87,000. Exchange Traded Concepts LLC boosted its stake in Nurix Therapeutics by 38.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company’s stock worth $109,000 after purchasing an additional 2,562 shares during the period. Finally, Summit Investment Advisors Inc. raised its position in Nurix Therapeutics by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock valued at $138,000 after buying an additional 877 shares during the last quarter.

About Nurix Therapeutics

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.