Nurix Therapeutics (NASDAQ:NRIX) Trading Down 6.9% – Here’s What Happened

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price fell 6.9% during trading on Thursday . The company traded as low as $13.61 and last traded at $13.54. 148,004 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 869,111 shares. The stock had previously closed at $14.54.

Analyst Ratings Changes

NRIX has been the topic of several analyst reports. Needham & Company LLC reduced their price objective on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. HC Wainwright boosted their target price on Nurix Therapeutics from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. BMO Capital Markets initiated coverage on Nurix Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $35.00 price target on the stock. Morgan Stanley lifted their price objective on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Finally, Stifel Nicolaus increased their target price on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.81.

Nurix Therapeutics Stock Performance

The firm’s fifty day moving average price is $17.54 and its 200 day moving average price is $21.19. The firm has a market cap of $1.03 billion, a P/E ratio of -4.70 and a beta of 2.18.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. As a group, analysts expect that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,690 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $73,246.50. Following the transaction, the insider now directly owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Houte Hans Van sold 2,811 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $55,798.35. Following the completion of the sale, the chief financial officer now directly owns 39,549 shares of the company’s stock, valued at $785,047.65. The trade was a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,326 shares of company stock valued at $213,449 over the last quarter. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE raised its position in shares of Nurix Therapeutics by 144.7% in the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after purchasing an additional 842 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth $28,000. Amalgamated Bank grew its holdings in shares of Nurix Therapeutics by 30.6% during the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after buying an additional 511 shares during the last quarter. Quarry LP increased its position in shares of Nurix Therapeutics by 3,746.2% in the 3rd quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after acquiring an additional 2,435 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in shares of Nurix Therapeutics in the 4th quarter valued at $87,000.

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.