Nurix Therapeutics (NASDAQ:NRIX) Stock Price Up 3.9% – Here’s What Happened

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price shot up 3.9% during trading on Wednesday . The stock traded as high as $19.73 and last traded at $19.63. 425,420 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 516,040 shares. The stock had previously closed at $18.90.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NRIX. Royal Bank of Canada reduced their price objective on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. BTIG Research started coverage on Nurix Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $35.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $41.00 price objective on the stock. Stephens reiterated an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Monday, October 14th. Finally, BMO Capital Markets assumed coverage on shares of Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $30.35.

Nurix Therapeutics Trading Down 6.5 %

The stock has a fifty day simple moving average of $21.69 and a 200-day simple moving average of $22.49. The company has a market capitalization of $1.29 billion, a PE ratio of -6.27 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Friday, October 11th. The company reported ($0.67) EPS for the quarter, meeting the consensus estimate of ($0.67). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. The company had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. As a group, equities research analysts predict that Nurix Therapeutics, Inc. will post -2.81 EPS for the current year.

Insider Buying and Selling

In other news, insider Christine Ring sold 3,290 shares of Nurix Therapeutics stock in a transaction on Monday, October 14th. The shares were sold at an average price of $25.00, for a total value of $82,250.00. Following the transaction, the insider now directly owns 24,592 shares of the company’s stock, valued at $614,800. The trade was a 11.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Houte Hans Van sold 3,546 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $24.28, for a total transaction of $86,096.88. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,641 shares of company stock worth $309,408 in the last ninety days. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several large investors have recently modified their holdings of the stock. Amalgamated Bank raised its stake in shares of Nurix Therapeutics by 30.6% during the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after buying an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Nurix Therapeutics by 31.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after acquiring an additional 559 shares in the last quarter. Quarry LP lifted its holdings in Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after acquiring an additional 2,435 shares during the period. International Assets Investment Management LLC boosted its position in shares of Nurix Therapeutics by 1,098.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock worth $101,000 after purchasing an additional 4,119 shares in the last quarter. Finally, Quest Partners LLC grew its stake in shares of Nurix Therapeutics by 21.3% during the 3rd quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock worth $168,000 after purchasing an additional 1,312 shares during the period.

Nurix Therapeutics Company Profile

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.