Nurix Therapeutics, Inc. (NASDAQ:NRIX) Given Average Rating of "Moderate Buy" by Brokerages

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seventeen brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.35.

A number of equities research analysts have recently commented on the company. Royal Bank of Canada dropped their price target on Nurix Therapeutics from $27.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, October 14th. Needham & Company LLC restated a "buy" rating and set a $29.00 target price on shares of Nurix Therapeutics in a report on Tuesday, December 10th. UBS Group started coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $35.00 price target for the company. BTIG Research initiated coverage on shares of Nurix Therapeutics in a report on Tuesday, December 10th. They set a "buy" rating and a $35.00 price objective on the stock. Finally, HC Wainwright boosted their price objective on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th.

Nurix Therapeutics Price Performance

NRIX traded down $1.27 during mid-day trading on Friday, hitting $18.24. The stock had a trading volume of 895,158 shares, compared to its average volume of 653,308. Nurix Therapeutics has a 1-year low of $7.65 and a 1-year high of $29.56. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -6.27 and a beta of 2.14. The stock's fifty day simple moving average is $21.69 and its 200-day simple moving average is $22.50.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The company reported ($0.67) EPS for the quarter, hitting the consensus estimate of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The business had revenue of $12.59 million for the quarter, compared to the consensus estimate of $13.85 million. As a group, research analysts expect that Nurix Therapeutics will post -2.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christine Ring sold 3,290 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $25.00, for a total value of $82,250.00. Following the completion of the sale, the insider now directly owns 24,592 shares of the company's stock, valued at $614,800. This trade represents a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Houte Hans Van sold 3,546 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $24.28, for a total value of $86,096.88. Following the transaction, the chief financial officer now directly owns 33,724 shares in the company, valued at $818,818.72. The trade was a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,641 shares of company stock valued at $309,408 in the last 90 days. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank grew its position in shares of Nurix Therapeutics by 30.6% in the third quarter. Amalgamated Bank now owns 2,182 shares of the company's stock valued at $49,000 after purchasing an additional 511 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Nurix Therapeutics by 31.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company's stock valued at $54,000 after purchasing an additional 559 shares during the period. Quarry LP grew its holdings in Nurix Therapeutics by 3,746.2% in the 3rd quarter. Quarry LP now owns 2,500 shares of the company's stock valued at $56,000 after buying an additional 2,435 shares in the last quarter. International Assets Investment Management LLC increased its position in Nurix Therapeutics by 1,098.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,494 shares of the company's stock worth $101,000 after buying an additional 4,119 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Nurix Therapeutics by 21.3% during the third quarter. Quest Partners LLC now owns 7,458 shares of the company's stock worth $168,000 after buying an additional 1,312 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.