Nurix Therapeutics (NASDAQ:NRIX) Shares Down 4.7%

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Robert W. Baird increased their price objective on Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. HC Wainwright dropped their price objective on Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Royal Bank of Canada increased their price objective on Nurix Therapeutics from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Morgan Stanley increased their price objective on Nurix Therapeutics from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, Wells Fargo & Company dropped their target price on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Nurix Therapeutics Price Performance

The firm has a market capitalization of $725.47 million, a PE ratio of -5.48 and a beta of 2.06. The firm has a 50-day simple moving average of $12.78 and a 200-day simple moving average of $9.32.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate 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 company had revenue of $15.16 million during the quarter, compared to the consensus estimate of $30.66 million. Equities analysts expect that Nurix Therapeutics, Inc. will post -3.32 earnings per share for the current year.

Insider Transactions at Nurix Therapeutics

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

Institutional Trading of Nurix Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NRIX. Swiss National Bank raised its stake in Nurix Therapeutics by 8.0% during the 1st quarter. Swiss National Bank now owns 47,500 shares of the company’s stock valued at $665,000 after purchasing an additional 3,500 shares during the period. JPMorgan Chase & Co. raised its stake in Nurix Therapeutics by 34.1% during the 1st quarter. JPMorgan Chase & Co. now owns 120,516 shares of the company’s stock valued at $1,688,000 after purchasing an additional 30,664 shares during the period. MetLife Investment Management LLC raised its stake in Nurix Therapeutics by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 18,670 shares of the company’s stock valued at $262,000 after purchasing an additional 6,891 shares during the period. Rhumbline Advisers raised its stake in Nurix Therapeutics by 4.9% during the 1st quarter. Rhumbline Advisers now owns 33,511 shares of the company’s stock valued at $469,000 after purchasing an additional 1,573 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Nurix Therapeutics by 104.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 237,525 shares of the company’s stock valued at $3,328,000 after purchasing an additional 121,167 shares during the period.

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.