Nurix Therapeutics (NASDAQ:NRIX) Stock Rating Upgraded by Wall Street Zen

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

A number of other equities research analysts have also issued reports on NRIX. HC Wainwright reiterated a "buy" rating and set a $36.00 target price on shares of Nurix Therapeutics in a report on Wednesday, April 2nd. Leerink Partners started coverage on Nurix Therapeutics in a research note on Monday, March 17th. They issued a "market perform" rating and a $16.00 price objective on the stock. Leerink Partnrs upgraded Nurix Therapeutics to a "hold" rating in a report on Monday, March 17th. Stifel Nicolaus cut their price target on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Needham & Company LLC reissued a "buy" rating and set a $27.00 price objective on shares of Nurix Therapeutics in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.18.

Nurix Therapeutics Price Performance

Shares of NRIX stock traded down $0.13 on Friday, hitting $11.49. The stock had a trading volume of 1,483,188 shares, compared to its average volume of 852,687. The firm has a market capitalization of $876.00 million, a P/E ratio of -4.10 and a beta of 2.15. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $29.56. The company's 50 day moving average price is $10.85 and its 200-day moving average price is $14.67.

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

Insider Activity

In other news, CFO Houte Hans Van sold 6,198 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $11.33, for a total value of $70,223.34. Following the completion of the sale, the chief financial officer now directly owns 33,724 shares of the company's stock, valued at approximately $382,092.92. This represents a 15.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gwenn Hansen sold 3,377 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total transaction of $38,835.50. Following the sale, the insider now owns 61,516 shares of the company's stock, valued at $707,434. This trade represents a 5.20% decrease in their position. The disclosure for this sale can be found here. Insiders have 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 company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Nurix Therapeutics by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 31,025 shares of the company's stock worth $585,000 after purchasing an additional 642 shares during the period. Corebridge Financial Inc. lifted its stake in shares of Nurix Therapeutics by 2.3% in the 4th quarter. Corebridge Financial Inc. now owns 34,907 shares of the company's stock worth $658,000 after acquiring an additional 770 shares during the period. Kennedy Capital Management LLC lifted its stake in shares of Nurix Therapeutics by 0.7% in the 4th quarter. Kennedy Capital Management LLC now owns 114,623 shares of the company's stock worth $2,159,000 after acquiring an additional 785 shares during the period. US Bancorp DE boosted its holdings in shares of Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock valued at $27,000 after acquiring an additional 842 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of Nurix Therapeutics by 13.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock worth $138,000 after acquiring an additional 877 shares during the period.

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.