Nurix Therapeutics (NASDAQ:NRIX) Stock Price Up 5.7%

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price was up 5.7% on Tuesday . The company traded as high as $22.38 and last traded at $22.22. Approximately 483,807 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 979,793 shares. The stock had previously closed at $21.03.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NRIX. Stifel Nicolaus reaffirmed a “buy” rating and set a $27.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, May 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research report on Monday, June 17th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, June 5th. JPMorgan Chase & Co. increased their price target on shares of Nurix Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Finally, Royal Bank of Canada increased their price target on shares of Nurix Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $24.80.

Nurix Therapeutics Stock Performance

The firm’s 50 day moving average is $15.39 and its two-hundred day moving average is $12.63.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Wednesday, April 10th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.04. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The firm had revenue of $16.59 million for the quarter, compared to analyst estimates of $14.58 million. Analysts expect that Nurix Therapeutics, Inc. will post -2.85 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.01, for a total value of $27,147.96. Following the sale, the insider now owns 19,838 shares in the company, valued at $337,444.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Nurix Therapeutics news, insider Christine Ring sold 1,596 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.01, for a total value of $27,147.96. Following the sale, the insider now owns 19,838 shares in the company, valued at $337,444.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Houte Hans Van sold 3,499 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total transaction of $44,892.17. Following the completion of the sale, the chief financial officer now owns 68,333 shares in the company, valued at approximately $876,712.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,789 shares of company stock worth $152,023. 7.20% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Nurix Therapeutics by 351.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock valued at $58,000 after purchasing an additional 4,367 shares in the last quarter. Quest Partners LLC bought a new stake in Nurix Therapeutics during the fourth quarter worth approximately $59,000. EntryPoint Capital LLC bought a new stake in shares of Nurix Therapeutics during the 1st quarter worth $123,000. Jump Financial LLC acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $158,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Nurix Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock worth $163,000 after acquiring an additional 4,012 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.