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

Nurix Therapeutics (NASDAQ:NRIX) released its quarterly earnings data on Tuesday. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.08), Zacks reports. Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%.

Nurix Therapeutics Price Performance

NRIX traded down $0.25 during trading on Tuesday, reaching $19.56. 575,902 shares of the company’s stock were exchanged, compared to its average volume of 643,907. Nurix Therapeutics has a 1 year low of $7.65 and a 1 year high of $29.56. The company’s fifty day simple moving average is $20.26 and its 200-day simple moving average is $22.45. The stock has a market capitalization of $1.39 billion, a P/E ratio of -6.72 and a beta of 2.14.

Analyst Upgrades and Downgrades

NRIX has been the topic of several research reports. Jefferies Financial Group began coverage on Nurix Therapeutics in a research note on Friday, October 11th. They set a “buy” rating and a $41.00 price target on the stock. Stephens reissued an “overweight” rating and set a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Royal Bank of Canada lowered their price target on shares of Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. HC Wainwright lifted their price objective on shares of Nurix Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, UBS Group started coverage on shares of Nurix Therapeutics in a research note on Thursday, October 24th. They issued a “buy” rating and a $35.00 price objective for the company. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Nurix Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $30.35.

Insider Activity

In related news, insider Gwenn Hansen sold 3,437 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $83,519.10. Following the completion of the transaction, the insider now directly owns 50,670 shares in the company, valued at $1,231,281. The trade was a 6.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Houte Hans Van sold 3,546 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $24.28, for a total transaction of $86,096.88. Following the sale, the chief financial officer now owns 33,724 shares in the company, valued at approximately $818,818.72. This represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,351 shares of company stock valued at $227,158 in the last ninety days. Insiders own 7.20% of the company’s stock.

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.