Nurix Therapeutics (NASDAQ:NRIX) Shares Down 3.3%

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price dropped 3.3% during mid-day trading on Friday . The company traded as low as $19.76 and last traded at $20.06. Approximately 182,103 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 977,001 shares. The stock had previously closed at $20.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NRIX shares. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target on shares of Nurix Therapeutics in a research report on Wednesday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research report on Monday, June 17th. Royal Bank of Canada lifted their price target on shares of Nurix Therapeutics from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday. Robert W. Baird increased their price objective on shares of Nurix Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $27.00 target price on shares of Nurix Therapeutics in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Nurix Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.10.

Nurix Therapeutics Stock Performance

The company has a 50 day moving average price of $15.65 and a 200 day moving average price of $12.74.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Wednesday, April 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.04. Nurix Therapeutics had a negative return on equity of 67.08% and a negative net margin of 178.93%. The business had revenue of $16.59 million during the quarter, compared to the consensus estimate of $14.58 million. On average, research analysts anticipate that Nurix Therapeutics, Inc. will post -2.85 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the transaction, the chief financial officer now owns 68,333 shares in the company, valued at approximately $876,712.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Christine Ring sold 1,596 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.01, for a total value of $27,147.96. Following the completion of the transaction, the insider now directly owns 19,838 shares in the company, valued at approximately $337,444.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Houte Hans Van sold 3,499 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.83, for a total transaction of $44,892.17. Following the sale, the chief financial officer now directly owns 68,333 shares of the company’s stock, valued at approximately $876,712.39. The disclosure for this sale can be found here. Insiders sold 10,789 shares of company stock worth $152,023 in the last ninety days. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Large investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. lifted its position in shares of Nurix Therapeutics by 351.0% during the 4th 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 last quarter. Quest Partners LLC bought a new stake in shares of Nurix Therapeutics during the 4th quarter valued at approximately $59,000. EntryPoint Capital LLC acquired a new position in Nurix Therapeutics during the 1st quarter worth approximately $123,000. Jump Financial LLC acquired a new stake in shares of Nurix Therapeutics during the fourth quarter valued at about $158,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Nurix Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 15,823 shares of the company’s stock valued at $163,000 after buying an additional 4,012 shares during the period.

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.