Nurix Therapeutics (NASDAQ:NRIX) Shares Up 4.4% – Here’s Why

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares traded up 4.4% on Thursday . The stock traded as high as $14.32 and last traded at $14.52. 77,123 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 855,801 shares. The stock had previously closed at $13.90.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Royal Bank of Canada raised their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Stephens restated an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Leerink Partners assumed coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They issued a “market perform” rating and a $16.00 price objective for the company. Finally, HC Wainwright raised their target price on shares of Nurix Therapeutics from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Nurix Therapeutics Price Performance

The stock’s 50-day moving average price is $17.00 and its 200-day moving average price is $20.80. The company has a market cap of $985.77 million, a P/E ratio of -4.49 and a beta of 2.18.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. As a group, analysts expect that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 5,825 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.49, for a total value of $84,404.25. Following the completion of the transaction, the chief financial officer now owns 33,724 shares of the company’s stock, valued at $488,660.76. The trade was a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $73,246.50. Following the transaction, the insider now directly owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. The trade was a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock valued at $213,449 over the last quarter. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in shares of Nurix Therapeutics by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 31,025 shares of the company’s stock valued at $585,000 after buying an additional 642 shares during the period. Corebridge Financial Inc. increased its stake in shares of Nurix Therapeutics by 2.3% in the fourth quarter. Corebridge Financial Inc. now owns 34,907 shares of the company’s stock valued at $658,000 after buying an additional 770 shares during the period. Kennedy Capital Management LLC increased its stake in shares of Nurix Therapeutics by 0.7% in the fourth quarter. Kennedy Capital Management LLC now owns 114,623 shares of the company’s stock valued at $2,159,000 after buying an additional 785 shares during the period. US Bancorp DE boosted its holdings in shares of Nurix Therapeutics by 144.7% during the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock worth $27,000 after buying an additional 842 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock worth $138,000 after buying an additional 877 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.