Nurix Therapeutics (NASDAQ:NRIX) Now Covered by BTIG Research

BTIG Research assumed coverage on shares of Nurix Therapeutics (NASDAQ:NRIX) in a research report sent to investors on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $35.00 target price on the stock.

NRIX has been the subject of several other reports. UBS Group began coverage on Nurix Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $35.00 price target for the company. Stephens reaffirmed an “overweight” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Monday, October 14th. Jefferies Financial Group began coverage on shares of Nurix Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $41.00 price objective for the company. Royal Bank of Canada cut their price objective on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Finally, Robert W. Baird began coverage on shares of Nurix Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $26.00 target price for the company. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.06.

Nurix Therapeutics Price Performance

Shares of NASDAQ:NRIX opened at $22.06 on Tuesday. The firm’s 50 day simple moving average is $23.72 and its 200 day simple moving average is $22.05. Nurix Therapeutics has a fifty-two week low of $7.65 and a fifty-two week high of $29.56. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -7.68 and a beta of 2.11.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $13.85 million. Equities research analysts expect that Nurix Therapeutics will post -2.81 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Gwenn Hansen sold 3,437 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $83,519.10. Following the completion of the sale, the insider now directly owns 50,670 shares in the company, valued at approximately $1,231,281. This trade represents a 6.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christine Ring sold 5,760 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $22.23, for a total value of $128,044.80. Following the transaction, the insider now directly owns 24,592 shares in the company, valued at approximately $546,680.16. This trade represents a 18.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,401 shares of company stock worth $437,453. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NRIX. Driehaus Capital Management LLC bought a new stake in shares of Nurix Therapeutics during the 2nd quarter worth approximately $26,778,000. Samlyn Capital LLC bought a new stake in Nurix Therapeutics during the second quarter worth $12,177,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Nurix Therapeutics in the 3rd quarter valued at $12,432,000. FMR LLC increased its stake in shares of Nurix Therapeutics by 675.9% in the 3rd quarter. FMR LLC now owns 586,902 shares of the company’s stock valued at $13,188,000 after purchasing an additional 511,256 shares during the last quarter. Finally, Patient Square Capital LP acquired a new position in shares of Nurix Therapeutics during the 3rd quarter worth $7,320,000.

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.