Nurix Therapeutics (NASDAQ:NRIX) Hits New 52-Week High – Here’s Why

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $28.04 and last traded at $27.57, with a volume of 186913 shares traded. The stock had previously closed at $27.00.

Analysts Set New Price Targets

Several equities analysts have recently commented on NRIX shares. Oppenheimer upped their price objective on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Truist Financial assumed coverage on Nurix Therapeutics in a research note on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price target for the company. JPMorgan Chase & Co. increased their price target on Nurix Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Royal Bank of Canada cut their price objective on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Finally, UBS Group assumed coverage on Nurix Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Nurix Therapeutics Stock Performance

The business has a 50 day moving average of $24.22 and a 200 day moving average of $20.50.

Nurix Therapeutics (NASDAQ:NRIX) last posted its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.67). The firm had revenue of $12.59 million during the quarter, compared to analyst estimates of $13.85 million. Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. On average, equities analysts anticipate that Nurix Therapeutics, Inc. will post -2.84 EPS for the current year.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 20,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the sale, the chief financial officer now owns 31,002 shares in the company, valued at approximately $781,870.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Gwenn Hansen sold 3,437 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total transaction of $83,519.10. Following the completion of the sale, the insider now directly owns 50,670 shares of the company’s stock, valued at approximately $1,231,281. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Houte Hans Van sold 20,000 shares of Nurix Therapeutics stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.22, for a total transaction of $504,400.00. Following the sale, the chief financial officer now owns 31,002 shares of the company’s stock, valued at $781,870.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,321 shares of company stock valued at $1,414,409. Insiders own 9.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Redmile Group LLC raised its holdings in shares of Nurix Therapeutics by 37.7% in the 1st quarter. Redmile Group LLC now owns 4,483,016 shares of the company’s stock valued at $65,900,000 after purchasing an additional 1,226,497 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Nurix Therapeutics in the 2nd quarter worth $26,778,000. Candriam S.C.A. lifted its stake in shares of Nurix Therapeutics by 30.5% during the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after purchasing an additional 272,136 shares during the last quarter. Affinity Asset Advisors LLC boosted its position in Nurix Therapeutics by 12.6% during the second quarter. Affinity Asset Advisors LLC now owns 912,000 shares of the company’s stock valued at $19,033,000 after purchasing an additional 101,747 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Nurix Therapeutics by 60.2% in the second quarter. Millennium Management LLC now owns 599,623 shares of the company’s stock worth $12,514,000 after purchasing an additional 225,374 shares in the last quarter.

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.