Nurix Therapeutics (NASDAQ:NRIX) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Nurix Therapeutics (NASDAQ:NRIX) posted its quarterly earnings data on Thursday. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08), FiscalAI reports. The company 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 411.37% and a negative return on equity of 64.21%.

Nurix Therapeutics Stock Up 1.6%

NRIX stock traded up $0.38 during trading on Thursday, hitting $24.69. 1,250,638 shares of the company’s stock traded hands, compared to its average volume of 1,553,993. Nurix Therapeutics has a 52 week low of $8.19 and a 52 week high of $25.09. The stock has a fifty day moving average price of $18.16 and a two-hundred day moving average price of $17.29. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -7.81 and a beta of 1.80.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial boosted their target price on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Wells Fargo & Company cut shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and reduced their price target for the stock from $28.00 to $25.00 in a research report on Monday, June 8th. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, June 10th. Oppenheimer started coverage on Nurix Therapeutics in a report on Monday, June 29th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.20.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 14,055 shares of the business’s stock in a transaction dated 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $20.00, for a total transaction of $107,880.00. Following the sale, the insider directly owned 115,005 shares of the company’s stock, valued at approximately $2,300,100. This represents a 4.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 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 hedge funds and other institutional investors have recently bought and sold shares of NRIX. Intesa Sanpaolo Wealth Management purchased a new stake in Nurix Therapeutics in the 4th quarter worth about $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth approximately $33,000. Wexford Capital LP acquired a new stake in shares of Nurix Therapeutics during the third quarter worth approximately $41,000. Tower Research Capital LLC TRC grew its position in Nurix Therapeutics by 118.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock valued at $73,000 after purchasing an additional 3,475 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in Nurix Therapeutics during the third quarter valued at approximately $100,000.

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.