Nurix Therapeutics (NASDAQ:NRIX) Stock Price Down 5.4% - What's Next?

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) fell 5.4% during mid-day trading on Friday . The company traded as low as $11.43 and last traded at $11.43. 294,157 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 846,367 shares. The stock had previously closed at $12.09.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NRIX shares. HC Wainwright dropped their price objective on shares of Nurix Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, July 14th. UBS Group reduced their target price on shares of Nurix Therapeutics from $30.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, July 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, April 29th. Morgan Stanley set a $16.00 price target on shares of Nurix Therapeutics and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Stephens reiterated an "overweight" rating and set a $30.00 price objective on shares of Nurix Therapeutics in a report on Thursday, July 10th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Nurix Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $29.31.

Nurix Therapeutics Stock Performance

The stock has a market cap of $861.21 million, a PE ratio of -4.32 and a beta of 2.15. The firm's 50-day moving average is $11.47 and its 200 day moving average is $13.52.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 9th. The company reported ($0.52) earnings per share (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 for the quarter, compared to analysts' expectations of $16.26 million. On average, sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,377 shares of Nurix Therapeutics stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total value of $38,835.50. Following the completion of the transaction, the insider owned 61,516 shares of the company's stock, valued at $707,434. The trade was a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Houte Hans Van sold 6,198 shares of Nurix Therapeutics stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $11.33, for a total transaction of $70,223.34. Following the completion of the transaction, the chief financial officer directly 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. In the last 90 days, insiders sold 12,013 shares of company stock valued at $137,096. Insiders own 7.40% of the company's stock.

Institutional Trading of Nurix Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of NRIX. Goldman Sachs Group Inc. lifted its holdings in Nurix Therapeutics by 9.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company's stock worth $6,029,000 after purchasing an additional 44,002 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Nurix Therapeutics by 7.0% during the first quarter. Rhumbline Advisers now owns 110,488 shares of the company's stock worth $1,313,000 after buying an additional 7,255 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 valued at $1,895,000 after purchasing an additional 12,817 shares in the last quarter. Millennium Management LLC grew its stake in Nurix Therapeutics by 106.2% in the first quarter. Millennium Management LLC now owns 874,399 shares of the company's stock valued at $10,388,000 after purchasing an additional 450,262 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Nurix Therapeutics by 11.9% during the 1st 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.

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.