Nurix Therapeutics (NASDAQ:NRIX) Reaches New 1-Year High – Here’s What Happened

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares hit a new 52-week high on Friday . The company traded as high as $26.50 and last traded at $26.08, with a volume of 305209 shares changing hands. The stock had previously closed at $25.22.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NRIX. HC Wainwright lifted their price target on Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group started coverage on shares of Nurix Therapeutics in a report on Friday, October 11th. They set a “buy” rating and a $41.00 target price for the company. Robert W. Baird began coverage on shares of Nurix Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Barclays raised their target price on Nurix Therapeutics from $20.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Nurix Therapeutics Stock Up 4.6 %

The stock’s 50-day simple moving average is $24.01 and its two-hundred day simple moving average is $19.88. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -9.13 and a beta of 2.22.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, hitting 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 firm had revenue of $12.59 million during the quarter, compared to the consensus estimate of $13.85 million. On average, sell-side analysts forecast that Nurix Therapeutics, Inc. will post -2.84 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In related news, insider Christine Ring sold 3,290 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $25.00, for a total transaction of $82,250.00. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $614,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Houte Hans Van sold 2,490 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total value of $51,468.30. Following the completion of the sale, the chief financial officer now owns 54,479 shares of the company’s stock, valued at $1,126,080.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christine Ring sold 3,290 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $25.00, for a total transaction of $82,250.00. Following the sale, the insider now directly owns 24,592 shares in the company, valued at approximately $614,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,105 shares of company stock valued at $1,507,181 over the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NRIX. China Universal Asset Management Co. Ltd. grew its holdings in shares of Nurix Therapeutics by 77.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,388 shares of the company’s stock worth $278,000 after purchasing an additional 5,419 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $54,000 after buying an additional 559 shares during the last quarter. International Assets Investment Management LLC lifted its position in Nurix Therapeutics by 1,098.4% in the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock valued at $101,000 after buying an additional 4,119 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Nurix Therapeutics during the third quarter worth about $3,152,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Nurix Therapeutics during the second quarter valued at about $578,000.

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.