Nurix Therapeutics (NASDAQ:NRIX) Posts Earnings Results, Beats Estimates By $0.27 EPS

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.52) EPS for the quarter, beating analysts' consensus estimates of ($0.79) by $0.27, Zacks reports. Nurix Therapeutics had a negative return on equity of 45.26% and a negative net margin of 234.57%. The firm had revenue of $44,056 billion for the quarter, compared to analyst estimates of $16.26 million.

Nurix Therapeutics Stock Down 1.8%

Shares of NRIX stock traded down $0.23 during mid-day trading on Friday, reaching $12.44. 1,408,338 shares of the stock traded hands, compared to its average volume of 850,512. The stock's fifty day simple moving average is $11.24 and its two-hundred day simple moving average is $13.76. Nurix Therapeutics has a 1-year low of $8.18 and a 1-year high of $29.56. The company has a market cap of $951.04 million, a price-to-earnings ratio of -4.77 and a beta of 2.15.

Insider Transactions at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,377 shares of Nurix Therapeutics stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total transaction of $38,835.50. Following the sale, the insider directly owned 61,516 shares of the company's stock, valued at approximately $707,434. This trade represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 6,198 shares of Nurix Therapeutics stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $11.33, for a total value of $70,223.34. Following the sale, the chief financial officer directly owned 33,724 shares in the company, valued at $382,092.92. The trade was a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,013 shares of company stock worth $137,096 over the last three months. Insiders own 7.40% of the company's stock.

Institutional Trading of Nurix Therapeutics

A number of hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Nurix Therapeutics by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company's stock worth $593,000 after acquiring an additional 5,286 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Nurix Therapeutics by 8.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company's stock worth $1,895,000 after acquiring an additional 12,817 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Nurix Therapeutics by 9.5% in the first quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company's stock worth $6,029,000 after acquiring an additional 44,002 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Nurix Therapeutics by 106.2% in the first quarter. Millennium Management LLC now owns 874,399 shares of the company's stock worth $10,388,000 after acquiring an additional 450,262 shares during the period.

Analyst Ratings Changes

A number of brokerages have commented on NRIX. Oppenheimer decreased their price objective on Nurix Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday. Stephens reissued an "overweight" rating and set a $30.00 target price on shares of Nurix Therapeutics in a report on Thursday. Stifel Nicolaus reduced their target price on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen raised Nurix Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Wells Fargo & Company reduced their target price on Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $29.59.

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.