Nurix Therapeutics (NASDAQ:NRIX) Trading Down 3.2% – What’s Next?

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

Analysts Set New Price Targets

A number of research firms have weighed in on NRIX. Royal Bank of Canada decreased their price target on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. BTIG Research initiated coverage on shares of Nurix Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $35.00 target price on the stock. Robert W. Baird started coverage on shares of Nurix Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $26.00 price objective for the company. HC Wainwright raised their target price on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Stephens reissued an “overweight” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research report on Monday, October 14th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.35.

Nurix Therapeutics Stock Down 2.6 %

The firm has a market capitalization of $1.38 billion, a P/E ratio of -6.69 and a beta of 2.11. The firm has a 50 day moving average of $23.36 and a 200-day moving average of $22.40.

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

Insider Activity

In related news, insider Christine Ring sold 5,760 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $22.23, for a total value of $128,044.80. Following the sale, the insider now directly owns 24,592 shares of the company’s stock, valued at $546,680.16. This trade represents a 18.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Houte Hans Van sold 2,368 shares of Nurix Therapeutics stock in a transaction dated 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 owns 37,270 shares in the company, valued at approximately $905,661. This represents a 5.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,401 shares of company stock worth $437,453. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

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