Nurix Therapeutics (NASDAQ:NRIX) Trading Up 8.3% – Should You Buy?

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) traded up 8.3% during trading on Friday . The company traded as high as $22.08 and last traded at $21.72. 169,365 shares were traded during mid-day trading, a decline of 81% from the average session volume of 897,327 shares. The stock had previously closed at $20.06.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $29.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, November 6th. BMO Capital Markets assumed coverage on Nurix Therapeutics in a research report on Friday. They issued an “outperform” rating and a $35.00 target price on the stock. HC Wainwright boosted their price target on Nurix Therapeutics from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Stephens restated an “overweight” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research note on Monday, October 14th. Finally, Royal Bank of Canada cut their price target on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.75.

Nurix Therapeutics Trading Up 7.3 %

The company has a market capitalization of $1.52 billion, a PE ratio of -7.46 and a beta of 2.11. The business has a fifty day moving average of $23.79 and a 200 day moving average of $21.90.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) 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 analyst estimates of $13.85 million. Equities analysts forecast that Nurix Therapeutics, Inc. will post -2.81 EPS for the current fiscal year.

Insider Activity

In related news, CFO Houte Hans Van sold 2,368 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $57,542.40. Following the completion of the transaction, the chief financial officer now owns 37,270 shares in the company, valued at $905,661. The trade was a 5.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine Ring sold 3,290 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $25.00, for a total transaction of $82,250.00. Following the transaction, the insider now owns 24,592 shares of the company’s stock, valued at $614,800. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,401 shares of company stock worth $437,453. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank boosted its holdings in Nurix Therapeutics by 30.6% in the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after purchasing an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Nurix Therapeutics by 31.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after buying an additional 559 shares during the last quarter. Quarry LP boosted its holdings in shares of Nurix Therapeutics by 3,746.2% in the 3rd quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after buying an additional 2,435 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Nurix Therapeutics by 1,098.4% in the 3rd 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. Finally, GAMMA Investing LLC lifted its position in Nurix Therapeutics by 299.8% in the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock valued at $95,000 after acquiring an additional 3,424 shares during the last quarter.

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.