Nurix Therapeutics (NASDAQ:NRIX) Stock Price Down 4.7%

Nurix Therapeutics, Inc. (NASDAQ:NRIX) traded down 4.7% on Tuesday . The stock traded as low as $14.70 and last traded at $14.74. 123,193 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 912,101 shares. The stock had previously closed at $15.46.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, April 9th. Royal Bank of Canada raised their target price on Nurix Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Robert W. Baird raised their target price on Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Wells Fargo & Company decreased their target price on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Finally, Morgan Stanley upped their target price on Nurix Therapeutics from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.33.

Nurix Therapeutics Stock Performance

The firm has a 50 day moving average of $13.02 and a 200-day moving average of $9.40. The stock has a market capitalization of $692.03 million, a PE ratio of -5.29 and a beta of 2.06.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.26). Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. The business had revenue of $15.16 million during the quarter, compared to analysts’ expectations of $30.66 million. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post -3.23 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 6,812 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.02, for a total transaction of $68,256.24. Following the completion of the sale, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at approximately $684,696.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 10,817 shares of company stock valued at $100,256 in the last three months. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in NRIX. Charles Schwab Investment Management Inc. increased its holdings in shares of Nurix Therapeutics by 48.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 568,576 shares of the company’s stock valued at $4,469,000 after acquiring an additional 184,617 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Nurix Therapeutics by 351.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock valued at $58,000 after buying an additional 4,367 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in Nurix Therapeutics by 192.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 163,623 shares of the company’s stock valued at $1,286,000 after buying an additional 107,719 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Nurix Therapeutics by 40.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 183,923 shares of the company’s stock valued at $1,446,000 after buying an additional 53,429 shares during the last quarter. Finally, ARK Investment Management LLC grew its holdings in Nurix Therapeutics by 23.2% in the 4th quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock valued at $32,972,000 after buying an additional 601,952 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.