Nurix Therapeutics (NASDAQ:NRIX) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Nurix Therapeutics (NASDAQ:NRIX) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently commented on NRIX. Jefferies Financial Group boosted their target price on shares of Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Friday, July 17th. Stifel Nicolaus lifted their price target on shares of Nurix Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Wells Fargo & Company lowered shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and dropped their price objective for the stock from $28.00 to $25.00 in a research note on Monday, June 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a research note on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.21.

Nurix Therapeutics Stock Performance

Shares of NASDAQ:NRIX opened at $26.14 on Friday. The firm has a market capitalization of $2.71 billion, a P/E ratio of -7.58 and a beta of 1.80. The stock has a 50 day moving average price of $24.91 and a 200-day moving average price of $19.33. Nurix Therapeutics has a 52-week low of $8.19 and a 52-week high of $28.23.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.08). The firm had revenue of $9.04 million for 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 forecast that Nurix Therapeutics will post -2.73 EPS for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 5,394 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $20.00, for a total value of $107,880.00. Following the transaction, the insider owned 115,005 shares in the company, valued at $2,300,100. The trade was a 4.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hans van Houte sold 4,761 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total transaction of $115,977.96. Following the sale, the chief financial officer directly owned 40,166 shares in the company, valued at $978,443.76. This trade 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 26,766 shares of company stock worth $626,343. 6.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC raised its holdings in Nurix Therapeutics by 339.0% in 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 last quarter. Intesa Sanpaolo Wealth Management purchased a new stake in Nurix Therapeutics during the 4th quarter valued at $31,000. Nykredit A S purchased a new stake in Nurix Therapeutics during the 2nd quarter valued at $32,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Nurix Therapeutics in the 4th quarter worth $33,000. Finally, KBC Group NV bought a new stake in shares of Nurix Therapeutics in the 1st quarter worth $34,000.

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.