Nurix Therapeutics (NASDAQ:NRIX) Shares Up 4.2% – Time to Buy?

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) were up 4.2% on Wednesday . The company traded as high as $10.92 and last traded at $10.91. Approximately 59,109 shares traded hands during trading, a decline of 93% from the average daily volume of 901,264 shares. The stock had previously closed at $10.47.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BTIG Research initiated coverage on Nurix Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Leerink Partners started coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They issued a “market perform” rating and a $16.00 target price for the company. BMO Capital Markets assumed coverage on shares of Nurix Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Nurix Therapeutics Stock Up 6.9 %

The stock’s 50-day moving average price is $16.01 and its 200 day moving average price is $20.16. The company has a market cap of $849.18 million, a P/E ratio of -3.89 and a beta of 2.18.

Nurix Therapeutics (NASDAQ:NRIX) last announced its earnings results on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. Analysts expect that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the transaction, the insider now directly owns 55,937 shares of the company’s stock, valued at $1,110,349.45. The trade was a 6.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Houte Hans Van sold 2,811 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $55,798.35. Following the completion of the sale, the chief financial officer now directly owns 39,549 shares of the company’s stock, valued at $785,047.65. This represents a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,326 shares of company stock valued at $213,449. Insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of Nurix Therapeutics by 3.0% in the fourth quarter. Wellington Management Group LLP now owns 3,586,605 shares of the company’s stock valued at $67,572,000 after buying an additional 104,500 shares during the period. GF Fund Management CO. LTD. acquired a new position in Nurix Therapeutics in the 4th quarter valued at approximately $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Nurix Therapeutics by 14.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 146,713 shares of the company’s stock worth $2,764,000 after acquiring an additional 18,189 shares during the period. Woodline Partners LP grew its holdings in shares of Nurix Therapeutics by 0.5% during the 4th quarter. Woodline Partners LP now owns 338,462 shares of the company’s stock worth $6,377,000 after purchasing an additional 1,583 shares in the last quarter. Finally, Velan Capital Investment Management LP bought a new stake in shares of Nurix Therapeutics during the fourth quarter valued at approximately $1,844,000.

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.