Nurix Therapeutics’ (NRIX) “Overweight” Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $31.00 target price on the stock.

A number of other research firms also recently weighed in on NRIX. HC Wainwright boosted their target price on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group started coverage on Nurix Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $41.00 price objective on the stock. BTIG Research initiated coverage on Nurix Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $35.00 price objective for the company. BMO Capital Markets began coverage on Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $29.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.35.

Nurix Therapeutics Price Performance

Shares of NRIX opened at $19.96 on Tuesday. The business’s 50 day simple moving average is $20.50 and its 200-day simple moving average is $22.46. Nurix Therapeutics has a 1 year low of $7.65 and a 1 year high of $29.56. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -6.86 and a beta of 2.14.

Insider Transactions at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,437 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $83,519.10. Following the transaction, the insider now owns 50,670 shares of the company’s stock, valued at $1,231,281. The trade was a 6.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Houte Hans Van sold 3,546 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $24.28, for a total transaction of $86,096.88. Following the sale, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at $818,818.72. The trade was a 9.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,351 shares of company stock valued at $227,158. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in Nurix Therapeutics by 8.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,482,105 shares of the company’s stock valued at $78,243,000 after buying an additional 280,240 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Nurix Therapeutics by 9.6% during the third quarter. Geode Capital Management LLC now owns 1,448,040 shares of the company’s stock valued at $32,544,000 after acquiring an additional 126,306 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $26,778,000. Affinity Asset Advisors LLC boosted its stake in Nurix Therapeutics by 12.6% in the 2nd quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock worth $19,033,000 after purchasing an additional 101,747 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Nurix Therapeutics by 60.2% during the 2nd quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock valued at $12,514,000 after purchasing an additional 225,374 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.