Nurix Therapeutics (NASDAQ:NRIX) Shares Up 4.6% - Time to Buy?

Key Points

• Nurix Therapeutics shares rose 4.6% to $8.71, although trading volume was down significantly at 48,130 shares compared to an average of 875,713 shares.
• Analysts have varied ratings for Nurix, with price targets ranging from $26 to $34, and an average price target of $29.07, indicating a generally positive outlook.
• The company reported a revenue of $44.06 million for the last quarter, surpassing estimates, and had a negative return on equity of 45.26% along with a negative net margin of 234.57%.

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) were up 4.6% on Friday . The company traded as high as $8.52 and last traded at $8.71. Approximately 48,130 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 875,713 shares. The stock had previously closed at $8.33.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NRIX shares. HC Wainwright dropped their price target on Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, July 14th. Stephens restated an "overweight" rating and issued a $30.00 price target on shares of Nurix Therapeutics in a research report on Thursday, July 10th. UBS Group dropped their price target on Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, July 10th. Wall Street Zen upgraded Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Baird R W upgraded Nurix Therapeutics to a "strong-buy" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $29.07.

Nurix Therapeutics Stock Performance

The company has a market cap of $683.39 million, a PE ratio of -3.45 and a beta of 2.10. The firm has a fifty day simple moving average of $9.95 and a 200 day simple moving average of $10.89.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.27. The firm had revenue of $44.06 million for the quarter, compared to analyst estimates of $16.26 million. Nurix Therapeutics had a negative return on equity of 45.26% and a negative net margin of 234.57%. As a group, equities analysts predict that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 5,402 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $11.03, for a total value of $59,584.06. Following the completion of the transaction, the chief financial officer owned 35,512 shares of the company's stock, valued at approximately $391,697.36. This represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gwenn Hansen sold 4,308 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $12.01, for a total value of $51,739.08. Following the transaction, the insider directly owned 69,023 shares of the company's stock, valued at $828,966.23. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,014 shares of company stock valued at $163,014. 7.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Nurix Therapeutics by 118.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company's stock valued at $73,000 after purchasing an additional 3,475 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at $164,000. Exchange Traded Concepts LLC lifted its holdings in shares of Nurix Therapeutics by 38.9% during the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company's stock valued at $109,000 after purchasing an additional 2,562 shares during the last quarter. Velan Capital Investment Management LP purchased a new stake in Nurix Therapeutics in the 2nd quarter worth about $114,000. Finally, E Fund Management Co. Ltd. purchased a new stake in Nurix Therapeutics in the 1st quarter worth about $122,000.

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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