Nurix Therapeutics (NASDAQ:NRIX) Trading 6.4% Higher

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) shot up 6.4% during mid-day trading on Wednesday . The company traded as high as $12.84 and last traded at $12.79. 109,824 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 936,348 shares. The stock had previously closed at $12.02.

Analyst Ratings Changes

A number of brokerages recently commented on NRIX. Royal Bank of Canada boosted their price objective on shares of Nurix Therapeutics from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. Needham & Company LLC reissued a "buy" rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, April 9th. Robert W. Baird raised their price objective on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Monday, February 26th. Finally, HC Wainwright reduced their price target on Nurix Therapeutics from $35.00 to $19.00 and set a "buy" rating for the company in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Nurix Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.33.

Nurix Therapeutics Stock Performance

The firm has a market capitalization of $642.88 million, a price-to-earnings ratio of -4.75 and a beta of 2.06. The business's 50 day moving average is $13.70 and its 200-day moving average is $9.83.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.77) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.26). The business had revenue of $15.16 million for the quarter, compared to analyst estimates of $30.66 million. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. Equities research analysts forecast that Nurix Therapeutics, Inc. will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,812 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.02, for a total value of $68,256.24. Following the completion of the sale, the chief financial officer now owns 68,333 shares in the company, valued at approximately $684,696.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 10,206 shares of company stock valued at $109,120 in the last ninety days. Company insiders own 9.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Nurix Therapeutics in the third quarter valued at $162,000. Raymond James & Associates grew its holdings in shares of Nurix Therapeutics by 6.0% in the 3rd quarter. Raymond James & Associates now owns 97,988 shares of the company's stock worth $770,000 after purchasing an additional 5,547 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Nurix Therapeutics by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 170,286 shares of the company's stock worth $1,338,000 after purchasing an additional 4,816 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Nurix Therapeutics by 14.8% during the 3rd quarter. Principal Financial Group Inc. now owns 15,531 shares of the company's stock valued at $122,000 after purchasing an additional 2,002 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Nurix Therapeutics by 15.6% in the third quarter. Los Angeles Capital Management LLC now owns 125,839 shares of the company's stock valued at $989,000 after buying an additional 16,989 shares in 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.