Nurix Therapeutics (NASDAQ:NRIX) Hits New 1-Year High – What’s Next?

Nurix Therapeutics, Inc. (NASDAQ:NRIX) hit a new 52-week high during trading on Thursday . The company traded as high as $24.97 and last traded at $24.8810, with a volume of 114976 shares changing hands. The stock had previously closed at $24.31.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NRIX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Truist Financial upped their price target on Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Wells Fargo & Company downgraded Nurix Therapeutics from an “overweight” rating to a “hold” rating and reduced their price objective for the stock from $28.00 to $25.00 in a research report on Monday, June 8th. Oppenheimer began coverage on Nurix Therapeutics in a research note on Monday, June 29th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, Jefferies Financial Group upped their target price on Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, June 8th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nurix Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $32.20.

Nurix Therapeutics Trading Up 1.5%

The stock has a market capitalization of $2.55 billion, a PE ratio of -7.79 and a beta of 1.80. The firm’s fifty day moving average is $18.16 and its 200-day moving average is $17.29.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Wednesday, April 8th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.03). The company had revenue of $6.25 million for the quarter, compared to analysts’ expectations 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, equities analysts predict that Nurix Therapeutics, Inc. will post -2.88 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 14,055 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $16.60, for a total value of $233,313.00. Following the completion of the sale, the chief financial officer directly owned 37,592 shares of the company’s stock, valued at approximately $624,027.20. The trade was a 27.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of Nurix Therapeutics stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $20.00, for a total transaction of $107,880.00. Following the completion of the transaction, the insider directly owned 115,005 shares in the company, valued at $2,300,100. The trade was a 4.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,051 shares of company stock worth $434,466 in the last three months. 6.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors have recently bought and sold shares of NRIX. General Atlantic L.P. purchased a new position in Nurix Therapeutics during the fourth quarter worth about $92,899,000. Morgan Stanley boosted its holdings in Nurix Therapeutics by 115.9% in the 4th quarter. Morgan Stanley now owns 4,881,069 shares of the company’s stock valued at $92,594,000 after purchasing an additional 2,620,323 shares in the last quarter. Rubric Capital Management LP acquired a new position in Nurix Therapeutics during the 4th quarter worth approximately $46,930,000. Braidwell LP acquired a new position in Nurix Therapeutics during the 4th quarter worth approximately $41,428,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Nurix Therapeutics by 195.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,248,361 shares of the company’s stock worth $61,622,000 after buying an additional 2,149,268 shares in the last quarter.

Nurix Therapeutics Company Profile

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.