Nurix Therapeutics (NASDAQ:NRIX) Shares Down 4.7%

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) shares fell 4.7% during mid-day trading on Thursday . The stock traded as low as $15.15 and last traded at $15.16. 205,941 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 919,435 shares. The stock had previously closed at $15.90.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NRIX shares. Needham & Company LLC restated a "buy" rating and set a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday. Royal Bank of Canada lifted their target price on Nurix Therapeutics from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Thursday, April 11th. Stifel Nicolaus restated a "buy" rating and issued a $27.00 price target on shares of Nurix Therapeutics in a research note on Wednesday. Morgan Stanley increased their target price on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. Finally, Stephens assumed coverage on Nurix Therapeutics in a report on Tuesday. They set an "overweight" rating and a $20.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.88.

Nurix Therapeutics Stock Performance

The business's 50 day moving average price is $14.06 and its 200-day moving average price is $10.48. The company has a market cap of $756.93 million, a price-to-earnings ratio of -5.98 and a beta of 2.10.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 10th. The company reported ($0.76) EPS for the quarter, topping analysts' consensus estimates of ($0.80) by $0.04. Nurix Therapeutics had a negative net margin of 178.93% and a negative return on equity of 67.08%. The firm had revenue of $16.59 million during the quarter, compared to analysts' expectations of $14.58 million. On average, equities research analysts expect that Nurix Therapeutics, Inc. will post -3.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In other Nurix Therapeutics news, CFO Houte Hans Van sold 3,499 shares of Nurix Therapeutics 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 completion of the transaction, the chief financial officer now directly owns 68,333 shares of the company's stock, valued at $876,712.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 13,705 shares of company stock worth $154,012 over the last three months. Company insiders own 9.80% of the company's stock.

Hedge Funds Weigh In On Nurix Therapeutics

Several institutional investors have recently added to or reduced their stakes in NRIX. China Universal Asset Management Co. Ltd. increased its holdings in shares of Nurix Therapeutics by 351.0% during the fourth 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 in the last quarter. Quest Partners LLC bought a new position in Nurix Therapeutics in the 4th quarter valued at $59,000. EntryPoint Capital LLC acquired a new position in Nurix Therapeutics in the first quarter worth $123,000. ProShare Advisors LLC grew its holdings in shares of Nurix Therapeutics by 9.1% during the first quarter. ProShare Advisors LLC now owns 11,978 shares of the company's stock worth $176,000 after purchasing an additional 998 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Nurix Therapeutics in the fourth quarter valued at $1,175,000.

Nurix Therapeutics Company Profile

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.

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