Nurix Therapeutics (NASDAQ:NRIX) Shares Down 3.6%

Nurix Therapeutics, Inc. (NASDAQ:NRIX) traded down 3.6% during mid-day trading on Tuesday . The stock traded as low as $12.91 and last traded at $13.04. 135,984 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 781,499 shares. The stock had previously closed at $13.53.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NRIX. Wells Fargo & Company dropped their price objective on shares of Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Royal Bank of Canada decreased their price objective on shares of Nurix Therapeutics from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Morgan Stanley upped their price objective on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $31.00 price objective on shares of Nurix Therapeutics in a research report on Friday, February 16th. Finally, HC Wainwright reduced their price target on shares of Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Nurix Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Nurix Therapeutics Stock Performance

The firm’s 50-day moving average is $10.92 and its two-hundred day moving average is $8.74.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.26). Nurix Therapeutics had a negative net margin of 186.98% and a negative return on equity of 59.47%. The firm had revenue of $15.16 million during the quarter, compared to analysts’ expectations of $30.66 million. Analysts forecast that Nurix Therapeutics, Inc. will post -3.26 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 on Friday, February 16th. The shares were sold at an average price of $10.02, for a total value of $68,256.24. Following the sale, the chief financial officer now directly owns 68,333 shares in the company, valued at approximately $684,696.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 10,817 shares of company stock worth $100,256. 7.20% of the stock is currently owned by insiders.

Institutional Trading of Nurix Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRIX. Quantbot Technologies LP grew its holdings in shares of Nurix Therapeutics by 211.1% during the first quarter. Quantbot Technologies LP now owns 5,600 shares of the company’s stock worth $78,000 after purchasing an additional 3,800 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Nurix Therapeutics by 351.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company’s stock worth $58,000 after buying an additional 4,367 shares during the period. Quest Partners LLC acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $59,000. Royal Bank of Canada boosted its stake in shares of Nurix Therapeutics by 112.9% during the second quarter. Royal Bank of Canada now owns 5,804 shares of the company’s stock worth $58,000 after buying an additional 3,078 shares during the period. Finally, Natixis acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $83,000.

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.