Nurix Therapeutics (NASDAQ:NRIX) Sets New 52-Week High – Time to Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $26.43 and last traded at $25.78, with a volume of 31899 shares. The stock had previously closed at $25.81.

Wall Street Analysts Forecast Growth

NRIX has been the subject of several analyst reports. Stephens restated an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research report on Monday, October 14th. Robert W. Baird initiated coverage on Nurix Therapeutics in a report on Friday, September 6th. They set an “outperform” rating and a $26.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Truist Financial started coverage on shares of Nurix Therapeutics in a research report on Wednesday, July 31st. They set a “buy” rating and a $36.00 target price on the stock. Finally, Barclays increased their price target on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $28.71.

Nurix Therapeutics Stock Up 1.3 %

The business has a 50 day moving average of $23.73 and a 200 day moving average of $19.58. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -8.58 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.67). The business had revenue of $12.59 million for the quarter, compared to the consensus estimate of $13.85 million. Nurix Therapeutics had a negative net margin of 264.84% and a negative return on equity of 67.78%. Research analysts predict that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Houte Hans Van sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the completion of the sale, the chief financial officer now directly owns 31,002 shares in the company, valued at $781,870.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Houte Hans Van sold 20,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the completion of the sale, the chief financial officer now owns 31,002 shares of the company’s stock, valued at approximately $781,870.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine Ring sold 5,760 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.43, for a total transaction of $123,436.80. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $527,006.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,105 shares of company stock worth $1,507,181. 7.20% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

A number of institutional investors have recently added to or reduced their stakes in NRIX. Redmile Group LLC lifted its stake in shares of Nurix Therapeutics by 37.7% during the first quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock worth $65,900,000 after purchasing an additional 1,226,497 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Nurix Therapeutics during the 2nd quarter valued at about $26,778,000. Candriam S.C.A. lifted its position in Nurix Therapeutics by 30.5% during the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after acquiring an additional 272,136 shares in the last quarter. Affinity Asset Advisors LLC boosted its holdings 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 acquiring an additional 101,747 shares during the period. Finally, Millennium Management LLC grew its position in Nurix Therapeutics by 60.2% in the second quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock valued at $12,514,000 after acquiring an additional 225,374 shares in the last quarter.

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.