Nurix Therapeutics (NASDAQ:NRIX) Shares Up 9.4% – Should You Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX) was up 9.4% during trading on Thursday . The company traded as high as $16.28 and last traded at $16.7390. Approximately 201,757 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,363,052 shares. The stock had previously closed at $15.30.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial raised their target price on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company cut Nurix Therapeutics from an “overweight” rating to a “hold” rating and lowered their target price for the stock from $28.00 to $25.00 in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Tuesday, April 21st. Finally, BTIG Research increased their price target on Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.14.

Nurix Therapeutics Price Performance

The company has a market capitalization of $1.71 billion, a PE ratio of -5.20 and a beta of 1.86. The business’s 50 day simple moving average is $16.36 and its 200 day simple moving average is $16.91.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Wednesday, April 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). The firm had revenue of $6.25 million for the quarter, compared to analyst estimates of $14.25 million. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%. As a group, analysts anticipate that Nurix Therapeutics, Inc. will post -2.94 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,214 shares of Nurix Therapeutics stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $16.65, for a total value of $53,513.10. Following the sale, the insider owned 120,399 shares in the company, valued at $2,004,643.35. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Houte Hans Van sold 14,055 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value of $233,313.00. Following the completion of the transaction, the chief financial officer directly owned 37,592 shares in the company, valued at approximately $624,027.20. This trade represents a 27.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 19,657 shares of company stock valued at $326,586. 6.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Nurix Therapeutics by 32.5% during the fourth quarter. Vanguard Group Inc. now owns 5,949,512 shares of the company’s stock valued at $112,862,000 after acquiring an additional 1,460,736 shares during the last quarter. General Atlantic L.P. acquired a new position in shares of Nurix Therapeutics in the 4th quarter worth approximately $92,899,000. Morgan Stanley boosted its position in shares of Nurix Therapeutics by 115.9% during the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock worth $92,594,000 after purchasing an additional 2,620,323 shares during the period. Vestal Point Capital LP boosted its position in shares of Nurix Therapeutics by 35.0% during the 4th quarter. Vestal Point Capital LP now owns 4,690,000 shares of the company’s stock worth $88,969,000 after purchasing an additional 1,215,000 shares during the period. Finally, Baker BROS. Advisors LP boosted its position in shares of Nurix Therapeutics by 20.0% during the 4th quarter. Baker BROS. Advisors LP now owns 4,658,556 shares of the company’s stock worth $88,373,000 after purchasing an additional 776,431 shares during the period.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.