Nurix Therapeutics (NASDAQ:NRIX) Trading Down 6.2% – Here’s What Happened

Nurix Therapeutics, Inc. (NASDAQ:NRIX) dropped 6.2% during trading on Friday . The stock traded as low as $13.22 and last traded at $13.01. Approximately 162,418 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 860,034 shares. The stock had previously closed at $13.87.

Analyst Ratings Changes

NRIX has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Stephens reaffirmed an “overweight” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Leerink Partners assumed coverage on shares of Nurix Therapeutics in a research report on Monday. They set a “market perform” rating and a $16.00 price target for the company. HC Wainwright upped their price target on shares of Nurix Therapeutics from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus upped their price target on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.88.

Nurix Therapeutics Trading Down 5.9 %

The firm has a market capitalization of $990.70 million, a P/E ratio of -4.53 and a beta of 2.18. The company has a 50 day simple moving average of $17.10 and a two-hundred day simple moving average of $20.88.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate 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%. On average, sell-side analysts expect that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insider Transactions at Nurix Therapeutics

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

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in NRIX. US Bancorp DE boosted its position in Nurix Therapeutics by 144.7% during the fourth quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after purchasing an additional 842 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Nurix Therapeutics in the fourth quarter worth about $28,000. Quarry LP boosted its holdings in Nurix Therapeutics by 3,746.2% in the third quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $56,000 after acquiring an additional 2,435 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Nurix Therapeutics in the fourth quarter worth about $87,000. Finally, Summit Investment Advisors Inc. boosted its holdings in Nurix Therapeutics by 13.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock worth $138,000 after acquiring an additional 877 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.