Nurix Therapeutics (NASDAQ:NRIX) Shares Up 6.3%

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price was up 6.3% during trading on Monday . The company traded as high as $22.23 and last traded at $22.09. Approximately 408,362 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 988,062 shares. The stock had previously closed at $20.78.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NRIX shares. Stephens started coverage on Nurix Therapeutics in a research note on Tuesday, May 14th. They issued an “overweight” rating and a $20.00 price objective on the stock. 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 note on Friday, July 12th. Barclays boosted 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. Robert W. Baird boosted their price objective on Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Needham & Company LLC reduced their price objective on Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.82.

Nurix Therapeutics Price Performance

The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -7.57 and a beta of 2.22. The firm has a 50 day moving average price of $18.13 and a 200-day moving average price of $14.08.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). The company had revenue of $12.09 million during the quarter, compared to the consensus estimate 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, sell-side analysts expect that Nurix Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, insider Christine Ring sold 5,760 shares of the company’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 completion of the sale, the insider now owns 19,838 shares in the company, valued at $412,828.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the stock in a transaction dated Thursday, May 2nd. The stock was 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 in the company, valued at $876,712.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christine Ring sold 5,760 shares of the 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 completion of the sale, the insider now owns 19,838 shares of the company’s stock, valued at $412,828.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,549 shares of company stock worth $271,888. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several large investors have recently modified their holdings of NRIX. China Universal Asset Management Co. Ltd. increased its holdings in shares of Nurix Therapeutics by 351.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock worth $58,000 after acquiring an additional 4,367 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Nurix Therapeutics in the fourth quarter worth about $59,000. GAMMA Investing LLC increased its holdings in shares of Nurix Therapeutics by 299.8% in the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after acquiring an additional 3,424 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Nurix Therapeutics during the first quarter worth about $123,000. Finally, Jump Financial LLC acquired a new position in shares of Nurix Therapeutics during the fourth quarter worth about $158,000.

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.