Nurix Therapeutics (NASDAQ:NRIX) Shares Up 6.6%

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) shares were up 6.6% during mid-day trading on Tuesday . The stock traded as high as $14.14 and last traded at $14.09. Approximately 283,848 shares changed hands during trading, a decline of 70% from the average daily volume of 935,327 shares. The stock had previously closed at $13.22.

Analyst Ratings Changes

A number of brokerages have recently commented on NRIX. Royal Bank of Canada increased their target price 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. HC Wainwright lowered their target price on Nurix Therapeutics from $35.00 to $19.00 and set a "buy" rating on the stock in a report on Tuesday, February 20th. Wells Fargo & Company dropped their price target on Nurix Therapeutics from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, February 16th. Needham & Company LLC reiterated a "buy" rating and set a $31.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, April 9th. Finally, Robert W. Baird upped their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the company an "outperform" rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.33.

Nurix Therapeutics Stock Performance

The company has a market capitalization of $695.96 million, a price-to-earnings ratio of -5.28 and a beta of 2.10. The firm has a 50-day simple moving average of $13.90 and a two-hundred day simple moving average of $10.04.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) earnings per share for the quarter, beating analysts' consensus estimates of ($0.80) by $0.04. The firm had revenue of $16.59 million during the quarter, compared to analysts' expectations of $14.58 million. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. As a group, equities analysts forecast that Nurix Therapeutics, Inc. will post -3.15 EPS for the current fiscal year.

Insider Activity

In related news, CFO Houte Hans Van sold 3,499 shares of the business's stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the completion of the transaction, the chief financial officer now directly owns 68,333 shares of the company's stock, valued at approximately $876,712.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 13,705 shares of company stock worth $154,012. Corporate insiders own 9.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in shares of Nurix Therapeutics by 351.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company's stock worth $58,000 after acquiring an additional 4,367 shares in the last quarter. Quest Partners LLC acquired a new stake in Nurix Therapeutics during the fourth quarter worth approximately $59,000. International Assets Investment Management LLC purchased a new stake in shares of Nurix Therapeutics during the 4th quarter worth approximately $1,175,000. Jump Financial LLC acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $158,000. Finally, Principal Financial Group Inc. grew its position in shares of Nurix Therapeutics by 14.8% in the 3rd quarter. Principal Financial Group Inc. now owns 15,531 shares of the company's stock valued at $122,000 after buying an additional 2,002 shares during 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.

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