Nurix Therapeutics (NASDAQ:NRIX) Trading 7.8% Higher - Still a Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report)'s share price traded up 7.8% on Wednesday . The company traded as high as $12.91 and last traded at $13.17. 219,435 shares were traded during trading, a decline of 74% from the average session volume of 834,181 shares. The stock had previously closed at $12.21.

Analysts Set New Price Targets

Several research firms have weighed in on NRIX. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Leerink Partners started coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They set a "market perform" rating and a $16.00 target price on the stock. Leerink Partnrs raised shares of Nurix Therapeutics to a "hold" rating in a research report on Monday, March 17th. HC Wainwright reissued a "buy" rating and issued a $36.00 price objective on shares of Nurix Therapeutics in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.18.

Nurix Therapeutics Stock Performance

The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -4.70 and a beta of 2.15. The business's 50-day simple moving average is $11.15 and its 200-day simple moving average is $13.95.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.05. Nurix Therapeutics had a negative net margin of 369.40% and a negative return on equity of 47.49%. The business had revenue of $18.45 million during the quarter, compared to analysts' expectations of $12.78 million. During the same period last year, the business earned ($0.76) earnings per share. On average, analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,198 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $11.33, for a total transaction of $70,223.34. Following the transaction, the chief financial officer directly owned 33,724 shares in the company, valued at approximately $382,092.92. This represents a 15.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gwenn Hansen sold 3,377 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 value of $38,835.50. Following the transaction, the insider owned 61,516 shares in the company, valued at approximately $707,434. This trade represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,013 shares of company stock valued at $137,096 in the last ninety days. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds have recently made changes to their positions in NRIX. Jump Financial LLC bought a new position in Nurix Therapeutics in the fourth quarter valued at about $1,406,000. Affinity Asset Advisors LLC lifted its stake in shares of Nurix Therapeutics by 9.3% during the 4th quarter. Affinity Asset Advisors LLC now owns 940,083 shares of the company's stock worth $17,711,000 after acquiring an additional 79,684 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Nurix Therapeutics during the 4th quarter valued at $1,026,000. RA Capital Management L.P. bought a new stake in Nurix Therapeutics during the 4th quarter valued at $25,120,000. Finally, Norges Bank purchased a new position in shares of Nurix Therapeutics in the 4th quarter valued at $6,006,000.

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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