Nurix Therapeutics (NASDAQ:NRIX) Trading 15.4% Higher

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Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIXGet Rating) traded up 15.4% during trading on Friday . The stock traded as high as $11.25 and last traded at $11.23. 7,328 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 698,531 shares. The stock had previously closed at $9.73.

NRIX has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded shares of Nurix Therapeutics from an “equal weight” rating to an “overweight” rating and set a $25.00 price target for the company in a report on Tuesday, May 31st. HC Wainwright cut their price target on shares of Nurix Therapeutics from $62.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, April 14th. Royal Bank of Canada cut their price target on shares of Nurix Therapeutics from $42.00 to $39.00 and set an “outperform” rating for the company in a report on Monday, April 18th. Needham & Company LLC cut their price target on shares of Nurix Therapeutics from $48.00 to $38.00 and set a “buy” rating for the company in a report on Friday, May 27th. Finally, Piper Sandler cut their price target on shares of Nurix Therapeutics from $55.00 to $35.00 in a report on Tuesday, May 31st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Nurix Therapeutics has an average rating of “Buy” and a consensus target price of $43.14.

The company’s fifty day simple moving average is $10.91 and its two-hundred day simple moving average is $17.10.

Nurix Therapeutics (NASDAQ:NRIXGet Rating) last posted its earnings results on Thursday, April 7th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The business had revenue of $9.62 million for the quarter, compared to analysts’ expectations of $8.77 million. Nurix Therapeutics had a negative net margin of 394.21% and a negative return on equity of 38.11%. As a group, analysts forecast that Nurix Therapeutics, Inc. will post -3.93 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ensign Peak Advisors Inc grew its holdings in shares of Nurix Therapeutics by 512.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 4,890 shares of the company’s stock worth $142,000 after buying an additional 4,091 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $3,369,000. Handelsbanken Fonder AB purchased a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $220,000. ARK Investment Management LLC purchased a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $1,272,000. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Nurix Therapeutics by 18.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 8,031 shares of the company’s stock worth $232,000 after acquiring an additional 1,223 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

About Nurix Therapeutics (NASDAQ:NRIX)

Nurix Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule therapies for the treatment of cancer and immune disorders. The company develops NX-2127, an orally available 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 available Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.

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