Nurix Therapeutics (NASDAQ:NRIX) Reaches New 52-Week High – Here’s What Happened

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $26.43 and last traded at $25.78, with a volume of 31899 shares trading hands. The stock had previously closed at $25.81.

Wall Street Analyst Weigh In

NRIX has been the topic of several research analyst reports. Oppenheimer raised their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Jefferies Financial Group initiated coverage on shares of Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price target on the stock. Truist Financial began coverage on shares of Nurix Therapeutics in a report on Wednesday, July 31st. They set a “buy” rating and a $36.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Monday. Finally, Robert W. Baird assumed coverage on Nurix Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $28.71.

Nurix Therapeutics Stock Performance

The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -8.84 and a beta of 2.22. The company has a fifty day simple moving average of $23.55 and a two-hundred day simple moving average of $19.47.

Nurix Therapeutics (NASDAQ:NRIX) last released its 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 return on equity of 67.78% and a negative net margin of 264.84%. The firm had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.85 million. As a group, equities analysts anticipate that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Christine Ring sold 3,290 shares of the firm’s stock in a transaction 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 sale, the insider now owns 24,592 shares of the company’s stock, valued at $614,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Houte Hans Van sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $25.22, for a total value of $504,400.00. Following the transaction, the chief financial officer now owns 31,002 shares in the company, valued at approximately $781,870.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christine Ring sold 3,290 shares of the company’s stock in a transaction 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 $614,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,105 shares of company stock valued at $1,507,181. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

A number of hedge funds have recently added to or reduced their stakes in NRIX. Wellington Management Group LLP grew its holdings in shares of Nurix Therapeutics by 41.6% during the fourth quarter. Wellington Management Group LLP now owns 205,324 shares of the company’s stock valued at $2,119,000 after buying an additional 60,271 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in Nurix Therapeutics in the 1st quarter worth about $265,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Nurix Therapeutics by 27.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,904 shares of the company’s stock valued at $454,000 after purchasing an additional 6,628 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Nurix Therapeutics by 75.6% in the first quarter. Russell Investments Group Ltd. now owns 53,542 shares of the company’s stock worth $787,000 after acquiring an additional 23,044 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Nurix Therapeutics by 9.1% during the first quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock valued at $176,000 after buying an additional 998 shares during the period.

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.