Nurix Therapeutics (NASDAQ:NRIX) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Q1 miss: Nurix reported EPS of ($0.79), missing consensus by $0.03, and revenue of $6.25 million versus $14.25 million expected, leaving the company with a deeply negative net margin (-314.90%) and ROE (-57.51%).
• Shares opened around $16.35 with a market cap of $1.69 billion; analysts have an average rating of "Moderate Buy" and an average price target of $30.54, with several firms raising targets to about $30.00.
• Insider selling was disclosed (Gwenn Hansen sold 4,895 shares and CFO Houte Hans Van sold 3,661 shares at about $16.60), reducing their positions; company insiders now own about 6.70% of the stock.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.03), FiscalAI reports. The firm had revenue of $6.25 million during the quarter, compared to analysts' expectations of $14.25 million. Nurix Therapeutics had a negative net margin of 314.90% and a negative return on equity of 57.51%.

Nurix Therapeutics Price Performance

NRIX stock opened at $16.35 on Wednesday. The firm has a market capitalization of $1.69 billion, a P/E ratio of -5.38 and a beta of 1.97. The business's 50-day moving average is $15.77 and its two-hundred day moving average is $15.22. Nurix Therapeutics has a 1 year low of $8.18 and a 1 year high of $22.50.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NRIX shares. Royal Bank Of Canada boosted their price objective on Nurix Therapeutics from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, January 29th. BTIG Research reaffirmed a "buy" rating and issued a $30.00 price target on shares of Nurix Therapeutics in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nurix Therapeutics in a research report on Thursday, January 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $32.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, March 24th. Finally, Mizuho increased their price target on Nurix Therapeutics from $24.00 to $30.00 and gave the company an "outperform" rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nurix Therapeutics has an average rating of "Moderate Buy" and an average price target of $30.54.

Insider Transactions at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 4,895 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $16.60, for a total value of $81,257.00. Following the transaction, the insider owned 83,672 shares in the company, valued at approximately $1,388,955.20. This represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Houte Hans Van sold 3,661 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $16.60, for a total value of $60,772.60. Following the completion of the transaction, the chief financial officer owned 45,427 shares in the company, valued at approximately $754,088.20. The trade was a 7.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in shares of Nurix Therapeutics by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 68,019 shares of the company's stock valued at $1,290,000 after acquiring an additional 1,476 shares during the last quarter. Intesa Sanpaolo Wealth Management purchased a new position in shares of Nurix Therapeutics in the 4th quarter valued at about $31,000. Royal Bank of Canada increased its holdings in shares of Nurix Therapeutics by 17.6% in the 4th quarter. Royal Bank of Canada now owns 10,842 shares of the company's stock valued at $206,000 after acquiring an additional 1,623 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Nurix Therapeutics in the 4th quarter valued at about $33,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Nurix Therapeutics by 5.0% in the 4th quarter. Russell Investments Group Ltd. now owns 63,482 shares of the company's stock valued at $1,204,000 after acquiring an additional 3,046 shares during the last quarter.

Nurix Therapeutics Company Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company's pipeline includes multiple programs in various stages of development.

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