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

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

Analyst Upgrades and Downgrades

NRIX has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Wells Fargo & Company lowered their price target on shares of Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Needham & Company LLC reiterated a “buy” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, April 9th. Royal Bank of Canada lifted their target price 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. Finally, HC Wainwright lowered their target price on shares of Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.33.

Nurix Therapeutics Price Performance

The company has a market capitalization of $692.03 million, a PE ratio of -5.29 and a beta of 2.06. The stock’s 50 day simple moving average is $13.02 and its 200-day simple moving average is $9.40.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $30.66 million. On average, equities analysts predict that Nurix Therapeutics, Inc. will post -3.23 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Houte Hans Van sold 6,812 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $10.02, for a total transaction of $68,256.24. Following the sale, the chief financial officer now directly owns 68,333 shares in the company, valued at $684,696.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 10,817 shares of company stock worth $100,256. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Nurix Therapeutics by 41.6% in the fourth quarter. Wellington Management Group LLP now owns 205,324 shares of the company’s stock valued at $2,119,000 after acquiring an additional 60,271 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Nurix Therapeutics by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,389,966 shares of the company’s stock valued at $24,665,000 after acquiring an additional 11,988 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Nurix Therapeutics by 35.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 49,018 shares of the company’s stock valued at $506,000 after acquiring an additional 12,880 shares during the period. Virtus ETF Advisers LLC boosted its holdings in shares of Nurix Therapeutics by 14.9% in the fourth quarter. Virtus ETF Advisers LLC now owns 10,356 shares of the company’s stock valued at $107,000 after acquiring an additional 1,345 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Nurix Therapeutics by 1.9% in the fourth quarter. Barclays PLC now owns 68,739 shares of the company’s stock valued at $709,000 after acquiring an additional 1,272 shares during the period.

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.