Nurix Therapeutics (NASDAQ:NRIX) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Nurix Therapeutics (NASDAQ: NRIX) has received a "sell (D-)" rating from Weiss Ratings, with the company currently holding an average rating of "Moderate Buy" from other analysts.
• Despite the negative rating, the stock price of Nurix Therapeutics increased by 1.5%, and its current trading range has a 12-month low of $8.18 and a high of $29.56.
• The company reported earnings of ($0.52) EPS for its last quarter, exceeding analyst expectations, with revenues significantly higher than estimates at $44.06 million.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also commented on the stock. Baird R W raised shares of Nurix Therapeutics to a "strong-buy" rating in a research report on Tuesday, August 26th. Wall Street Zen upgraded shares of Nurix Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. UBS Group cut their target price on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, July 10th. Morgan Stanley set a $16.00 target price on shares of Nurix Therapeutics and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, HC Wainwright reduced their target price on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.07.

Nurix Therapeutics Stock Up 1.5%

NASDAQ:NRIX opened at $9.98 on Wednesday. Nurix Therapeutics has a 12 month low of $8.18 and a 12 month high of $29.56. The firm has a market cap of $762.97 million, a price-to-earnings ratio of -3.82 and a beta of 2.33. The company's 50 day moving average is $9.57 and its 200-day moving average is $10.62.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) EPS for the quarter, beating analysts' consensus estimates 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 $44.06 million for the quarter, compared to analyst estimates of $16.26 million. Research analysts predict that Nurix Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Activity

In related news, insider Gwenn Hansen sold 4,308 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $12.01, for a total transaction of $51,739.08. Following the transaction, the insider owned 69,023 shares in the company, valued at $828,966.23. This represents a 5.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Houte Hans Van sold 5,402 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $11.03, for a total transaction of $59,584.06. Following the sale, the chief financial officer directly owned 35,512 shares in the company, valued at approximately $391,697.36. This represents a 13.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,014 shares of company stock worth $163,014. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Nikko Asset Management Americas Inc. raised its position in shares of Nurix Therapeutics by 83.8% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 1,389,274 shares of the company's stock valued at $15,796,000 after acquiring an additional 633,304 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Nurix Therapeutics by 118.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company's stock valued at $73,000 after acquiring an additional 3,475 shares during the period. Vestal Point Capital LP raised its position in shares of Nurix Therapeutics by 77.7% in the 2nd quarter. Vestal Point Capital LP now owns 2,000,000 shares of the company's stock valued at $22,780,000 after acquiring an additional 874,448 shares during the period. Perceptive Advisors LLC raised its position in shares of Nurix Therapeutics by 268.7% in the 2nd quarter. Perceptive Advisors LLC now owns 1,096,985 shares of the company's stock valued at $12,495,000 after acquiring an additional 799,432 shares during the period. Finally, Man Group plc acquired a new stake in shares of Nurix Therapeutics in the 2nd quarter valued at approximately $322,000.

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.

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