Nurix Therapeutics (NASDAQ:NRIX) Reaches New 52-Week High at $26.26

Nurix Therapeutics, Inc. (NASDAQ:NRIX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.26 and last traded at $25.67, with a volume of 458257 shares. The stock had previously closed at $24.83.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays upped their price objective on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Needham & Company LLC decreased their target price on shares of Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, July 12th. HC Wainwright raised their price target on shares of Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, Royal Bank of Canada boosted their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Nurix Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Nurix Therapeutics Price Performance

The company has a fifty day moving average price of $22.87 and a two-hundred day moving average price of $18.15. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -8.58 and a beta of 2.23.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Thursday, July 11th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). The business had revenue of $12.09 million during the quarter, compared to analyst estimates of $19.35 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. On average, research analysts expect that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Christine Ring sold 5,760 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.81, for a total transaction of $119,865.60. Following the completion of the sale, the insider now owns 19,838 shares in the company, valued at approximately $412,828.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Gwenn Hansen sold 3,408 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total value of $70,443.36. Following the completion of the transaction, the insider now owns 45,150 shares in the company, valued at approximately $933,250.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine Ring sold 5,760 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $20.81, for a total value of $119,865.60. Following the sale, the insider now owns 19,838 shares in the company, valued at approximately $412,828.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,815 shares of company stock worth $1,416,751. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Nurix Therapeutics by 9.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 622,297 shares of the company’s stock worth $6,422,000 after purchasing an additional 53,721 shares during the period. Jump Financial LLC acquired a new stake in shares of Nurix Therapeutics in the fourth quarter worth $158,000. Trexquant Investment LP grew its holdings in shares of Nurix Therapeutics by 80.9% during the fourth quarter. Trexquant Investment LP now owns 159,318 shares of the company’s stock valued at $1,644,000 after buying an additional 71,252 shares in the last quarter. Quest Partners LLC acquired a new position in Nurix Therapeutics during the fourth quarter valued at $59,000. Finally, Affinity Asset Advisors LLC raised its position in Nurix Therapeutics by 176.0% during the fourth quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company’s stock valued at $7,122,000 after buying an additional 440,112 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.