Nurix Therapeutics (NASDAQ:NRIX) Trading Down 8.6% on Disappointing Earnings

Nurix Therapeutics, Inc. (NASDAQ:NRIX) fell 8.6% during trading on Friday following a dissappointing earnings announcement. The company traded as low as $23.29 and last traded at $22.5550. Approximately 118,665 shares traded hands during trading, a decline of 92% from the average daily volume of 1,546,845 shares. The stock had previously closed at $24.69.

The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.09). 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 return on equity of 64.21% and a negative net margin of 411.37%.

Key Headlines Impacting Nurix Therapeutics

Here are the key news stories impacting Nurix Therapeutics this week:

• Positive Sentiment: Nurix announced a global collaboration with Roche for bexobrutideg that could bring up to $2.3 billion in total payments, including a $700 million upfront payment, which is a major validation of the company’s pipeline and a meaningful source of non-dilutive capital. Article Title
• Positive Sentiment: Needham & Company LLC reaffirmed its Buy rating and set a $34 price target, implying notable upside from recent trading levels. Article Title
• Positive Sentiment: BTIG Research also reiterated a Buy rating with a $32 price target, reinforcing the view that the Roche deal and broader pipeline remain attractive to analysts. Article Title
• Neutral Sentiment: Nurix’s second-quarter results were weaker than expected, with a loss of $0.81 per share versus estimates for a $0.72 loss and revenue of $9.04 million versus $15.29 million expected, highlighting ongoing operating losses and revenue volatility. Article Title
• Neutral Sentiment: Additional coverage of the Q2 2026 earnings release echoed the same miss on EPS and revenue, which may temper enthusiasm but is partly offset by the Roche collaboration and analyst upgrades. Article Title

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NRIX. HC Wainwright boosted their price target on shares of Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday. Truist Financial raised their price objective on Nurix Therapeutics from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. BTIG Research reiterated a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a report on Friday. Oppenheimer assumed coverage on Nurix Therapeutics in a report on Monday, June 29th. They set an “outperform” rating and a $28.00 target price on the stock. Finally, Jefferies Financial Group boosted their target price on Nurix Therapeutics from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.62.

Insider Buying and Selling

In other news, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total transaction of $233,313.00. Following the completion of the sale, the chief financial officer owned 37,592 shares of the company’s stock, valued at $624,027.20. This represents a 27.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the sale, the insider owned 115,005 shares in the company, valued at approximately $2,300,100. The trade was a 4.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 25,051 shares of company stock worth $434,466. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of large investors have recently added to or reduced their stakes in NRIX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Nurix Therapeutics by 11.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company’s stock valued at $593,000 after purchasing an additional 5,286 shares during the period. Millennium Management LLC boosted its position in shares of Nurix Therapeutics by 106.2% during the first quarter. Millennium Management LLC now owns 874,399 shares of the company’s stock worth $10,388,000 after buying an additional 450,262 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Nurix Therapeutics by 9.5% during the first quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock worth $6,029,000 after buying an additional 44,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Nurix Therapeutics by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company’s stock worth $1,895,000 after buying an additional 12,817 shares in the last quarter. Finally, Creative Planning acquired a new stake in Nurix Therapeutics in the 2nd quarter valued at approximately $187,000.

Nurix Therapeutics Stock Performance

The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -7.18 and a beta of 1.80. The stock has a 50-day moving average of $18.31 and a 200-day moving average of $17.33.

Nurix Therapeutics Company Profile

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.