Nurix Therapeutics (NASDAQ:NRIX) Trading 3.9% Higher - Here's What Happened

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report)'s share price was up 3.9% on Wednesday . The stock traded as high as $10.16 and last traded at $10.15. Approximately 94,705 shares traded hands during trading, a decline of 89% from the average daily volume of 870,196 shares. The stock had previously closed at $9.77.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NRIX shares. Leerink Partnrs upgraded Nurix Therapeutics to a "hold" rating in a research note on Monday, March 17th. Morgan Stanley boosted their target price on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Leerink Partners initiated coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They issued a "market perform" rating and a $16.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company lowered their target price on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.44.

Nurix Therapeutics Trading Up 14.2%

The company's 50 day simple moving average is $10.35 and its 200-day simple moving average is $15.64. The firm has a market cap of $925.51 million, a P/E ratio of -4.20 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) EPS for the quarter, beating analysts' consensus estimates of ($0.72) by $0.05. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The company had revenue of $18.45 million during the quarter, compared to analysts' expectations of $12.78 million. During the same quarter in the prior year, the business earned ($0.76) earnings per share. On average, sell-side analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,377 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total transaction of $38,835.50. Following the completion of the sale, the insider now directly owns 61,516 shares of the company's stock, valued at $707,434. This trade represents a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Houte Hans Van sold 2,438 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total transaction of $28,037.00. Following the transaction, the chief financial officer now directly owns 39,922 shares of the company's stock, valued at $459,103. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,013 shares of company stock worth $137,096 in the last 90 days. 7.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of hedge funds have recently made changes to their positions in NRIX. Barclays PLC grew its holdings in Nurix Therapeutics by 77.9% during the 3rd quarter. Barclays PLC now owns 128,344 shares of the company's stock valued at $2,884,000 after buying an additional 56,190 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Nurix Therapeutics by 21.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 15,020 shares of the company's stock valued at $283,000 after purchasing an additional 2,632 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Nurix Therapeutics by 42.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company's stock worth $14,869,000 after purchasing an additional 235,971 shares during the last quarter. Rhumbline Advisers raised its stake in Nurix Therapeutics by 13.5% during the fourth quarter. Rhumbline Advisers now owns 103,233 shares of the company's stock valued at $1,945,000 after purchasing an additional 12,315 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Nurix Therapeutics by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 190,905 shares of the company's stock valued at $3,597,000 after purchasing an additional 15,639 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.