Nurix Therapeutics (NASDAQ:NRIX) Trading 7.3% Higher – Still a Buy?

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) were up 7.3% during trading on Monday . The company traded as high as $16.81 and last traded at $16.6440. Approximately 565,012 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 1,142,631 shares. The stock had previously closed at $15.51.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NRIX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of Nurix Therapeutics in a report on Thursday, January 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Thursday, January 22nd. Stifel Nicolaus upped their price target on shares of Nurix Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Piper Sandler increased their price target on Nurix Therapeutics from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Finally, BTIG Research reissued a “buy” rating and set a $30.00 price objective on shares of Nurix Therapeutics in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.54.

Nurix Therapeutics Price Performance

The company’s 50-day moving average price is $15.89 and its two-hundred day moving average price is $15.11. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -5.29 and a beta of 1.97.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Wednesday, January 28th. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.02. The company had revenue of $13.58 million for the quarter, compared to the consensus estimate of $13.41 million. Nurix Therapeutics had a negative return on equity of 57.51% and a negative net margin of 314.90%. On average, equities research analysts expect that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 4,895 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total transaction of $81,257.00. Following the transaction, the insider directly owned 83,672 shares of the company’s stock, valued at approximately $1,388,955.20. This represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 3,661 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $60,772.60. Following the completion of the transaction, the chief financial officer owned 45,427 shares in the company, valued at approximately $754,088.20. The trade was a 7.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 7.40% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Several hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC raised its holdings in Nurix Therapeutics by 339.0% during the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after buying an additional 1,190 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Nurix Therapeutics by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 68,019 shares of the company’s stock valued at $1,290,000 after buying an additional 1,476 shares during the last quarter. Intesa Sanpaolo Wealth Management bought a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $31,000. Royal Bank of Canada raised its holdings in shares of Nurix Therapeutics by 17.6% in the 4th quarter. Royal Bank of Canada now owns 10,842 shares of the company’s stock worth $206,000 after acquiring an additional 1,623 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Nurix Therapeutics by 8.2% in the 4th quarter. Arizona State Retirement System now owns 21,990 shares of the company’s stock worth $417,000 after acquiring an additional 1,674 shares during the last quarter.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.