Nurix Therapeutics (NASDAQ:NRIX) Stock Price Down 6.9%

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price was down 6.9% during mid-day trading on Thursday . The stock traded as low as $12.71 and last traded at $12.80. Approximately 246,037 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 931,490 shares. The stock had previously closed at $13.75.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NRIX shares. Robert W. Baird upped their target price on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. HC Wainwright lowered their target price on shares of Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Morgan Stanley increased their price target on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Royal Bank of Canada increased their price target on shares of Nurix Therapeutics from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Nurix Therapeutics Stock Performance

The company has a market cap of $607.49 million, a PE ratio of -4.65 and a beta of 2.06. The stock’s 50-day simple moving average is $13.61 and its 200 day simple moving average is $9.71.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.26). The company had revenue of $15.16 million during the quarter, compared to analysts’ expectations of $30.66 million. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post -3.15 EPS for the current fiscal year.

Insider Activity

In other news, CFO Houte Hans Van sold 6,812 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $10.02, for a total value of $68,256.24. Following the completion of the transaction, the chief financial officer now owns 68,333 shares in the company, valued at approximately $684,696.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 10,817 shares of company stock worth $100,256 in the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of large investors have recently made changes to their positions in the stock. ARK Investment Management LLC increased its holdings in Nurix Therapeutics by 23.2% during the 4th quarter. ARK Investment Management LLC now owns 3,194,999 shares of the company’s stock valued at $32,972,000 after acquiring an additional 601,952 shares in the last quarter. Affinity Asset Advisors LLC increased its holdings in Nurix Therapeutics by 176.0% during the 4th quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company’s stock valued at $7,122,000 after acquiring an additional 440,112 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Nurix Therapeutics by 48.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 568,576 shares of the company’s stock valued at $4,469,000 after acquiring an additional 184,617 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Nurix Therapeutics by 1,012.4% during the 3rd quarter. GSA Capital Partners LLP now owns 195,420 shares of the company’s stock valued at $1,536,000 after acquiring an additional 177,852 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its holdings in Nurix Therapeutics by 192.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 163,623 shares of the company’s stock valued at $1,286,000 after acquiring an additional 107,719 shares in 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.