Nurix Therapeutics (NASDAQ:NRIX) Trading Down 5.7%

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price dropped 5.7% during trading on Monday . The company traded as low as $24.07 and last traded at $24.16. Approximately 133,767 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 900,072 shares. The stock had previously closed at $25.62.

Analyst Ratings Changes

Several research firms recently commented on NRIX. Truist Financial began coverage on Nurix Therapeutics in a report on Wednesday, July 31st. They issued a “buy” rating and a $36.00 price objective for the company. Needham & Company LLC dropped their price objective on shares of Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating for the company in a report on Friday, July 12th. HC Wainwright upped their price objective on Nurix Therapeutics from $19.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. raised their price target on shares of Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Barclays raised their price target on Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Nurix Therapeutics Stock Performance

The company has a market cap of $1.18 billion, a PE ratio of -8.23 and a beta of 2.23. The stock has a 50 day moving average of $22.96 and a 200-day moving average of $18.34.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Thursday, July 11th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The firm had revenue of $12.09 million for the quarter, compared to analyst estimates of $19.35 million. Equities research analysts forecast that Nurix Therapeutics, Inc. will post -2.95 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the sale, the chief financial officer now directly owns 54,479 shares in the company, valued at $1,126,080.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nurix Therapeutics news, insider Christine Ring sold 9,870 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $25.01, for a total transaction of $246,848.70. Following the sale, the insider now directly owns 24,592 shares in the company, valued at $615,045.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $20.67, for a total transaction of $51,468.30. Following the completion of the transaction, the chief financial officer now directly owns 54,479 shares of the company’s stock, valued at approximately $1,126,080.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,815 shares of company stock worth $1,416,751. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in NRIX. ProShare Advisors LLC boosted its position in shares of Nurix Therapeutics by 9.1% during the 1st quarter. ProShare Advisors LLC now owns 11,978 shares of the company’s stock worth $176,000 after acquiring an additional 998 shares in the last quarter. ClariVest Asset Management LLC raised its stake in Nurix Therapeutics by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock worth $1,318,000 after acquiring an additional 1,766 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Nurix Therapeutics by 3.7% in the first quarter. Public Employees Retirement System of Ohio now owns 50,838 shares of the company’s stock valued at $747,000 after acquiring an additional 1,820 shares during the last quarter. GAMMA Investing LLC lifted its position in Nurix Therapeutics by 299.8% in the second quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock valued at $95,000 after acquiring an additional 3,424 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Nurix Therapeutics by 67.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,404 shares of the company’s stock valued at $138,000 after acquiring an additional 3,793 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.