Nurix Therapeutics (NASDAQ:NRIX) Trading Down 6.9%

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price dropped 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.

Analysts Set New Price Targets

NRIX has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. 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. Wells Fargo & Company lowered 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. Morgan Stanley raised their target price on Nurix Therapeutics from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, HC Wainwright lowered their target price on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Nurix Therapeutics Price Performance

The stock has a market capitalization of $607.49 million, a price-to-earnings ratio of -5.17 and a beta of 2.06. The stock has a 50-day moving average of $13.51 and a 200 day moving average of $9.65.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $30.66 million. Sell-side analysts anticipate that Nurix Therapeutics, Inc. will post -3.15 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,812 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.02, for a total transaction of $68,256.24. Following the transaction, the chief financial officer now owns 68,333 shares of the company’s stock, valued at approximately $684,696.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 10,817 shares of company stock valued at $100,256. 7.20% of the stock is owned by insiders.

Institutional Trading of Nurix Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased 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 worth $58,000 after purchasing an additional 4,367 shares in the last quarter. Quest Partners LLC acquired a new position in Nurix Therapeutics in the 4th quarter worth about $59,000. International Assets Investment Management LLC acquired a new position in Nurix Therapeutics in the 4th quarter worth about $1,175,000. Jump Financial LLC acquired a new position in Nurix Therapeutics in the 4th quarter worth about $158,000. Finally, Principal Financial Group Inc. increased its holdings in Nurix Therapeutics by 14.8% in the 3rd 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.

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.