Nurix Therapeutics (NASDAQ:NRIX) Trading 9.4% Higher – Time to Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price rose 9.4% on Thursday . The company traded as high as $16.28 and last traded at $16.7390. Approximately 201,757 shares were traded during trading, a decline of 85% from the average daily volume of 1,363,052 shares. The stock had previously closed at $15.30.

Analysts Set New Price Targets

NRIX has been the topic of a number of analyst reports. BTIG Research upped their target price on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Tuesday, April 21st. Jefferies Financial Group upped their target price on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Finally, Needham & Company LLC upped their target price on shares of Nurix Therapeutics from $26.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.14.

Nurix Therapeutics Stock Performance

The company has a market cap of $1.75 billion, a PE ratio of -5.36 and a beta of 1.86. The stock’s 50 day moving average price is $16.42 and its 200-day moving average price is $16.92.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). Nurix Therapeutics had a negative net margin of 411.37% and a negative return on equity of 64.21%. The business had revenue of $6.25 million during the quarter, compared to analysts’ expectations of $14.25 million. On average, analysts anticipate that Nurix Therapeutics, Inc. will post -2.88 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 14,055 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value of $233,313.00. Following the completion of the sale, the chief financial officer owned 37,592 shares of the company’s stock, valued at approximately $624,027.20. This represents a 27.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 3,214 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $16.65, for a total transaction of $53,513.10. Following the completion of the sale, the insider directly owned 120,399 shares of the company’s stock, valued at $2,004,643.35. This trade represents a 2.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 19,657 shares of company stock valued at $326,586 in the last ninety days. 6.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC grew its holdings in Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after acquiring an additional 1,190 shares during the last quarter. Intesa Sanpaolo Wealth Management bought a new stake in Nurix Therapeutics in the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd bought a new stake in Nurix Therapeutics in the 4th quarter worth $33,000. KBC Group NV bought a new stake in Nurix Therapeutics in the 1st quarter worth $34,000. Finally, Wexford Capital LP bought a new stake in Nurix Therapeutics in the 3rd quarter worth $41,000.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.