Nurix Therapeutics (NASDAQ:NRIX) Trading Down 3.2% – Here’s Why

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price traded down 3.2% on Tuesday . The stock traded as low as $19.13 and last traded at $19.34. 40,746 shares were traded during mid-day trading, a decline of 96% from the average session volume of 906,354 shares. The stock had previously closed at $19.98.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. UBS Group started coverage on Nurix Therapeutics in a research report on Thursday, October 24th. They set a “buy” rating and a $35.00 target price for the company. HC Wainwright lifted their price objective on Nurix Therapeutics from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. BMO Capital Markets started coverage on shares of Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Nurix Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, Oppenheimer increased their price objective on shares of Nurix Therapeutics from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.35.

Nurix Therapeutics Price Performance

The business’s fifty day moving average price is $23.36 and its 200-day moving average price is $22.40. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -6.69 and a beta of 2.11.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.67). The business had revenue of $12.59 million during the quarter, compared to the consensus estimate of $13.85 million. Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. Equities research analysts predict that Nurix Therapeutics, Inc. will post -2.81 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Christine Ring sold 3,290 shares of Nurix Therapeutics stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $25.00, for a total transaction of $82,250.00. Following the transaction, the insider now owns 24,592 shares of the company’s stock, valued at $614,800. This trade represents a 11.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Houte Hans Van sold 2,368 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $57,542.40. Following the completion of the transaction, the chief financial officer now directly owns 37,270 shares of the company’s stock, valued at approximately $905,661. This represents a 5.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,401 shares of company stock valued at $437,453. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Amalgamated Bank boosted its holdings in shares of Nurix Therapeutics by 30.6% in the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock worth $49,000 after buying an additional 511 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Nurix Therapeutics by 31.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock worth $54,000 after acquiring an additional 559 shares during the period. Quest Partners LLC boosted its stake in Nurix Therapeutics by 21.3% in the third quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after acquiring an additional 1,312 shares during the last quarter. ClariVest Asset Management LLC grew its position in shares of Nurix Therapeutics by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock valued at $1,318,000 after acquiring an additional 1,766 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of Nurix Therapeutics by 8.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,024 shares of the company’s stock worth $675,000 after purchasing an additional 2,329 shares during 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.