Nurix Therapeutics (NASDAQ:NRIX) Stock Price Down 6.9%

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares were down 6.9% during mid-day trading on Thursday . The stock traded as low as $12.71 and last traded at $12.80. Approximately 246,037 shares were traded during trading, a decline of 74% from the average daily volume of 931,490 shares. The stock had previously closed at $13.75.

Analyst Ratings Changes

Several research firms recently weighed in on NRIX. HC Wainwright reduced their price objective on shares of Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Robert W. Baird upped their price objective on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Wells Fargo & Company reduced their price objective on shares of Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a report on Tuesday, April 9th. Finally, Royal Bank of Canada upped their price target on shares of Nurix Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.33.

Nurix Therapeutics Stock Performance

The company has a market capitalization of $607.49 million, a price-to-earnings ratio of -4.65 and a beta of 2.06. The stock’s fifty day simple moving average is $13.61 and its two-hundred day simple moving average is $9.71.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.26). Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The business had revenue of $15.16 million during the quarter, compared to analyst estimates of $30.66 million. On average, equities analysts anticipate that Nurix Therapeutics, Inc. will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,812 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were 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 $684,696.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 10,817 shares of company stock valued at $100,256. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. lifted its position in shares of Nurix Therapeutics by 351.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock worth $58,000 after purchasing an additional 4,367 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Nurix Therapeutics in the fourth quarter worth approximately $59,000. International Assets Investment Management LLC purchased a new stake in shares of Nurix Therapeutics in the fourth quarter worth approximately $1,175,000. Jump Financial LLC purchased a new stake in shares of Nurix Therapeutics in the fourth quarter worth approximately $158,000. Finally, Principal Financial Group Inc. lifted its position in shares of Nurix Therapeutics by 14.8% in the third quarter. Principal Financial Group Inc. now owns 15,531 shares of the company’s stock worth $122,000 after purchasing an additional 2,002 shares in the last quarter.

Nurix Therapeutics Company Profile

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.