Nurix Therapeutics (NASDAQ:NRIX) Stock Price Up 10.9% – Still a Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price rose 10.9% during mid-day trading on Wednesday . The stock traded as high as $15.99 and last traded at $16.0110. Approximately 572,608 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 1,123,446 shares. The stock had previously closed at $14.44.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NRIX. BTIG Research reiterated a “buy” rating and set a $30.00 target price on shares of Nurix Therapeutics in a research note on Thursday, January 29th. Stifel Nicolaus raised their price objective on Nurix Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Royal Bank Of Canada lifted their price target on Nurix Therapeutics from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Mizuho upped their price objective on Nurix Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $30.54.

Nurix Therapeutics Trading Up 0.6%

The company has a market capitalization of $1.60 billion, a P/E ratio of -5.11 and a beta of 1.96. The company’s fifty day moving average is $16.33 and its 200 day moving average is $14.77.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Wednesday, January 28th. The company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.02. Nurix Therapeutics had a negative return on equity of 57.51% and a negative net margin of 314.90%.The firm had revenue of $13.58 million for the quarter, compared to analysts’ expectations of $13.41 million. Equities research analysts predict that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 3,661 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $16.60, for a total transaction of $60,772.60. Following the transaction, the chief financial officer owned 45,427 shares in the company, valued at $754,088.20. The trade was a 7.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gwenn Hansen sold 4,895 shares of Nurix Therapeutics stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $16.60, for a total value of $81,257.00. Following the sale, the insider directly owned 83,672 shares in the company, valued at approximately $1,388,955.20. The trade was a 5.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 7.40% of the company’s stock.

Institutional Trading of Nurix Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of NRIX. Larson Financial Group LLC increased its holdings in shares of Nurix Therapeutics by 339.0% in the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after purchasing an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management purchased a new position in Nurix Therapeutics in the 4th quarter worth about $31,000. Caitong International Asset Management Co. Ltd purchased a new position in Nurix Therapeutics in the 4th quarter worth about $33,000. Wexford Capital LP bought a new position in Nurix Therapeutics during the 3rd quarter valued at about $41,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Nurix Therapeutics by 118.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after acquiring an additional 3,475 shares during the last quarter.

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.