Nurix Therapeutics (NASDAQ:NRIX) Stock Price Up 4.2% - Time to Buy?

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report)'s stock price traded up 4.2% during trading on Wednesday . The company traded as high as $10.92 and last traded at $10.91. 59,109 shares were traded during mid-day trading, a decline of 93% from the average session volume of 901,264 shares. The stock had previously closed at $10.47.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NRIX shares. JPMorgan Chase & Co. decreased their target price on shares of Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley boosted their target price on Nurix Therapeutics from $16.00 to $17.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. Needham & Company LLC lowered their price target on Nurix Therapeutics from $29.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Leerink Partners began coverage on shares of Nurix Therapeutics in a research note on Monday, March 17th. They issued a "market perform" rating and a $16.00 target price on the stock. Finally, Royal Bank of Canada upped their price target on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.88.

Nurix Therapeutics Stock Performance

The firm has a market capitalization of $703.89 million, a PE ratio of -3.20 and a beta of 2.23. The company has a fifty day simple moving average of $15.45 and a two-hundred day simple moving average of $19.86.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. On average, equities analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 5,825 shares of Nurix Therapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.49, for a total value of $84,404.25. Following the transaction, the chief financial officer now owns 33,724 shares in the company, valued at $488,660.76. The trade was a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the transaction, the insider now owns 55,937 shares of the company's stock, valued at $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock worth $213,449 over the last 90 days. Company insiders own 7.20% of the company's stock.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Nurix Therapeutics by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 31,025 shares of the company's stock valued at $585,000 after acquiring an additional 642 shares in the last quarter. Corebridge Financial Inc. grew its holdings in shares of Nurix Therapeutics by 2.3% during the fourth quarter. Corebridge Financial Inc. now owns 34,907 shares of the company's stock valued at $658,000 after buying an additional 770 shares during the last quarter. Kennedy Capital Management LLC increased its position in shares of Nurix Therapeutics by 0.7% in the 4th quarter. Kennedy Capital Management LLC now owns 114,623 shares of the company's stock valued at $2,159,000 after acquiring an additional 785 shares during the period. US Bancorp DE raised its stake in Nurix Therapeutics by 144.7% in the 4th quarter. US Bancorp DE now owns 1,424 shares of the company's stock worth $27,000 after acquiring an additional 842 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock valued at $138,000 after purchasing an additional 877 shares during the last quarter.

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.