Nurix Therapeutics (NASDAQ:NRIX) Hits New 52-Week High – Here’s What Happened

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $27.50 and last traded at $27.4350, with a volume of 147733 shares traded. The stock had previously closed at $26.93.

Wall Street Analysts Forecast Growth

NRIX has been the subject of a number of recent analyst reports. Robert W. Baird raised their price target on Nurix Therapeutics from $26.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. HC Wainwright increased their target price on Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Mizuho raised their target price on Nurix Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target on shares of Nurix Therapeutics in a report on Tuesday, August 4th. Finally, Oppenheimer assumed coverage on shares of Nurix Therapeutics in a research report on Monday, June 29th. They set an “outperform” rating and a $28.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.21.

Nurix Therapeutics Trading Down 2.7%

The firm has a fifty day simple moving average of $23.24 and a 200-day simple moving average of $18.59. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -7.84 and a beta of 1.79.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). The firm had revenue of $9.04 million during the quarter, compared to the consensus estimate of $15.29 million. Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. On average, equities analysts predict that Nurix Therapeutics, Inc. will post -2.73 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Gwenn Hansen sold 5,394 shares of Nurix Therapeutics stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $20.00, for a total value of $107,880.00. Following the completion of the sale, the insider directly owned 115,005 shares in the company, valued at $2,300,100. This trade represents a 4.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 4,761 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $115,977.96. Following the sale, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at $978,443.76. This represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 25,314 shares of company stock worth $589,361. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nurix Therapeutics

Large investors have recently bought and sold shares of the business. Larson Financial Group LLC grew its holdings in Nurix Therapeutics by 339.0% during the 4th quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after acquiring an additional 1,190 shares during the period. Intesa Sanpaolo Wealth Management acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $33,000. KBC Group NV bought a new position in shares of Nurix Therapeutics in the 1st quarter worth $34,000. Finally, Wexford Capital LP bought a new position in shares of Nurix Therapeutics in the 3rd quarter worth $41,000.

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.