Nurix Therapeutics (NASDAQ:NRIX) Hits New 1-Year High - Here's Why

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $28.04 and last traded at $27.57, with a volume of 186913 shares trading hands. The stock had previously closed at $27.00.

Analyst Ratings Changes

Several brokerages recently weighed in on NRIX. Robert W. Baird began coverage on shares of Nurix Therapeutics in a research note on Friday, September 6th. They issued an "outperform" rating and a $26.00 target price for the company. HC Wainwright upped their price objective on shares of Nurix Therapeutics from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, October 21st. 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. Barclays upped their price objective on shares of Nurix Therapeutics from $20.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, July 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $29.00 price objective on shares of Nurix Therapeutics in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $29.40.

Nurix Therapeutics Trading Up 0.9 %

The stock has a 50-day simple moving average of $24.26 and a 200-day simple moving average of $20.55. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -9.51 and a beta of 2.20.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) 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 company had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. On average, research analysts forecast 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 company's stock in a transaction that occurred 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 directly owns 31,002 shares of the company's stock, valued at approximately $781,870.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Nurix Therapeutics 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 value of $504,400.00. Following the sale, the chief financial officer now directly owns 31,002 shares of the company's stock, valued at $781,870.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christine Ring sold 9,050 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $24.94, for a total value of $225,707.00. Following the completion of the sale, the insider now directly owns 24,592 shares in the company, valued at $613,324.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,321 shares of company stock valued at $1,414,409. Corporate insiders own 9.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NRIX. Amalgamated Bank grew its stake in shares of Nurix Therapeutics by 30.6% in the third quarter. Amalgamated Bank now owns 2,182 shares of the company's stock worth $49,000 after purchasing an additional 511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Nurix Therapeutics by 31.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company's stock valued at $54,000 after buying an additional 559 shares in the last quarter. GAMMA Investing LLC boosted its stake in Nurix Therapeutics by 299.8% during the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company's stock valued at $95,000 after buying an additional 3,424 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Nurix Therapeutics by 1,098.4% during the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company's stock valued at $101,000 after buying an additional 4,119 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in Nurix Therapeutics during the first quarter valued at about $123,000.

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.