Nurix Therapeutics (NASDAQ:NRIX) Sees Unusually-High Trading Volume

Nurix Therapeutics, Inc. (NASDAQ:NRIXGet Free Report) saw strong trading volume on Friday . 2,540,011 shares traded hands during mid-day trading, an increase of 170% from the previous session’s volume of 939,965 shares.The stock last traded at $16.48 and had previously closed at $15.40.

Wall Street Analyst Weigh In

Several brokerages have commented on NRIX. Robert W. Baird raised their price objective on Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Morgan Stanley lifted their target price on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Wells Fargo & Company cut their price target on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Stephens started coverage on Nurix Therapeutics in a research note on Tuesday, May 14th. They set an “overweight” rating and a $20.00 price objective for the company. Finally, HC Wainwright reduced their price target on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.88.

Check Out Our Latest Stock Report on Nurix Therapeutics

Nurix Therapeutics Stock Performance

The company’s 50 day moving average is $14.12 and its two-hundred day moving average is $10.63.

Nurix Therapeutics (NASDAQ:NRIXGet Free Report) last announced its quarterly earnings results on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $14.58 million. As a group, equities analysts predict that Nurix Therapeutics, Inc. will post -3.15 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $12.83, for a total value of $44,892.17. Following the completion of the sale, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at approximately $876,712.39. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 6,893 shares of company stock worth $85,756 in the last quarter. 7.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in NRIX. Charles Schwab Investment Management Inc. lifted its stake in Nurix Therapeutics by 48.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 568,576 shares of the company’s stock worth $4,469,000 after acquiring an additional 184,617 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Nurix Therapeutics by 351.0% in 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. Kennedy Capital Management LLC lifted its position in shares of Nurix Therapeutics by 192.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 163,623 shares of the company’s stock worth $1,286,000 after purchasing an additional 107,719 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Nurix Therapeutics by 40.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 183,923 shares of the company’s stock valued at $1,446,000 after purchasing an additional 53,429 shares in the last quarter. Finally, ARK Investment Management LLC increased its holdings in Nurix Therapeutics by 23.2% during the fourth quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock valued at $32,972,000 after buying an additional 601,952 shares during the period.

Nurix Therapeutics Company Profile

(Get Free Report)

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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