HC Wainwright Has Lowered Expectations for Nurix Therapeutics (NASDAQ:NRIX) Stock Price

Nurix Therapeutics (NASDAQ:NRIX - Free Report) had its price target cut by HC Wainwright from $36.00 to $34.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on NRIX. Wells Fargo & Company lowered their target price on Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $27.00 price target on shares of Nurix Therapeutics in a report on Tuesday, April 29th. Leerink Partnrs raised shares of Nurix Therapeutics to a "hold" rating in a research note on Monday, March 17th. Leerink Partners began coverage on Nurix Therapeutics in a research note on Monday, March 17th. They set a "market perform" rating and a $16.00 price objective for the company. Finally, Wall Street Zen raised shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $29.47.

Nurix Therapeutics Stock Up 2.0%

NASDAQ:NRIX traded up $0.25 during trading hours on Monday, reaching $12.69. The company had a trading volume of 995,433 shares, compared to its average volume of 895,960. The firm has a market cap of $970.15 million, a price-to-earnings ratio of -4.86 and a beta of 2.15. The business's 50-day simple moving average is $11.24 and its two-hundred day simple moving average is $13.76. Nurix Therapeutics has a twelve month low of $8.18 and a twelve month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last posted its earnings results on Wednesday, July 9th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.27. Nurix Therapeutics had a negative net margin of 234.57% and a negative return on equity of 45.26%. The company had revenue of $44,056 billion during the quarter, compared to the consensus estimate of $16.26 million. As a group, equities analysts predict that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,377 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total value of $38,835.50. Following the sale, the insider directly owned 61,516 shares of the company's stock, valued at $707,434. This trade represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Houte Hans Van sold 6,198 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $11.33, for a total value of $70,223.34. Following the transaction, the chief financial officer owned 33,724 shares of the company's stock, valued at approximately $382,092.92. This represents a 15.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,013 shares of company stock valued at $137,096 in the last three months. 7.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Nurix Therapeutics by 1,711.9% during the fourth quarter. FMR LLC now owns 10,634,231 shares of the company's stock valued at $200,349,000 after acquiring an additional 10,047,329 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nurix Therapeutics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,415,122 shares of the company's stock valued at $52,452,000 after buying an additional 69,856 shares during the period. Wellington Management Group LLP lifted its holdings in Nurix Therapeutics by 3.0% in the fourth quarter. Wellington Management Group LLP now owns 3,586,605 shares of the company's stock valued at $67,572,000 after acquiring an additional 104,500 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Nurix Therapeutics by 2.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,428,283 shares of the company's stock worth $28,849,000 after purchasing an additional 47,855 shares during the period. Finally, Soleus Capital Management L.P. boosted its stake in shares of Nurix Therapeutics by 97.3% during the 4th quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company's stock worth $39,617,000 after acquiring an additional 1,036,999 shares during 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.