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

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) have been given an average rating of "Moderate Buy" by the fifteen brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $29.40.

A number of equities research analysts have recently weighed in on the company. Stephens reaffirmed an "overweight" rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research note on Monday, October 14th. Needham & Company LLC reissued a "buy" rating and set a $29.00 target price on shares of Nurix Therapeutics in a research note on Wednesday, November 6th. Robert W. Baird began coverage on Nurix Therapeutics in a research note on Friday, September 6th. They set an "outperform" rating and a $26.00 target price for the company. HC Wainwright boosted their target price on Nurix Therapeutics from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Finally, Truist Financial began coverage on Nurix Therapeutics in a research note on Wednesday, July 31st. They set a "buy" rating and a $36.00 target price for the company.

Nurix Therapeutics Stock Performance

Shares of NASDAQ NRIX traded down $0.32 during trading on Friday, reaching $22.05. The stock had a trading volume of 744,614 shares, compared to its average volume of 904,663. Nurix Therapeutics has a fifty-two week low of $5.65 and a fifty-two week high of $29.56. The business's 50-day moving average price is $24.43 and its 200-day moving average price is $21.42. The company has a market cap of $1.56 billion, a P/E ratio of -7.69 and a beta of 2.20.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $13.85 million. Analysts forecast that Nurix Therapeutics will post -2.81 EPS for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,437 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total value 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 6.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christine Ring sold 9,870 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.01, for a total value of $246,848.70. Following the completion of the sale, the insider now directly owns 24,592 shares of the company's stock, valued at $615,045.92. The trade was a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,321 shares of company stock valued at $1,414,409. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC purchased a new position in shares of Nurix Therapeutics during the 2nd quarter worth approximately $26,778,000. Redmile Group LLC grew 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 worth $65,900,000 after acquiring an additional 1,226,497 shares during the period. Samlyn Capital LLC acquired a new stake in shares of Nurix Therapeutics in the 2nd quarter worth approximately $12,177,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Nurix Therapeutics in the 3rd quarter worth approximately $12,432,000. Finally, FMR LLC grew its holdings in shares of Nurix Therapeutics by 675.9% in the 3rd quarter. FMR LLC now owns 586,902 shares of the company's stock worth $13,188,000 after acquiring an additional 511,256 shares during the period.

About Nurix Therapeutics

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.