Nurix Therapeutics (NASDAQ:NRIX) Stock Price Down 5.9% - What's Next?

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) dropped 5.9% during trading on Thursday . The stock traded as low as $11.88 and last traded at $11.88. Approximately 94,461 shares were traded during trading, a decline of 89% from the average daily volume of 883,262 shares. The stock had previously closed at $12.63.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen lowered shares of Nurix Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Wells Fargo & Company reduced their price target on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Leerink Partnrs upgraded shares of Nurix Therapeutics to a "hold" rating in a research report on Monday, March 17th. Finally, HC Wainwright reissued a "buy" rating and set a $36.00 target price on shares of Nurix Therapeutics in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy 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 $30.18.

Nurix Therapeutics Stock Performance

The company has a 50-day moving average of $10.62 and a 200 day moving average of $14.96. The firm has a market cap of $909.50 million, a P/E ratio of -4.13 and a beta of 2.15.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.05. Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. The firm had revenue of $18.45 million during the quarter, compared to analyst estimates of $12.78 million. During the same period in the prior year, the company posted ($0.76) earnings per share. Sell-side analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 2,438 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total transaction of $28,037.00. Following the completion of the sale, the chief financial officer now directly owns 39,922 shares of the company's stock, valued at $459,103. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gwenn Hansen sold 3,377 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $11.50, for a total value of $38,835.50. Following the completion of the transaction, the insider now directly owns 61,516 shares in the company, valued at approximately $707,434. This represents a 5.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,013 shares of company stock valued at $137,096 in the last ninety days. Insiders own 7.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NRIX. Rhumbline Advisers raised its stake in shares of Nurix Therapeutics by 7.0% in the first quarter. Rhumbline Advisers now owns 110,488 shares of the company's stock worth $1,313,000 after acquiring an additional 7,255 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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 valued at $1,895,000 after purchasing an additional 12,817 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings 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 valued at $6,029,000 after purchasing an additional 44,002 shares in the last quarter. Millennium Management LLC raised its position in Nurix Therapeutics by 106.2% in the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company's stock worth $10,388,000 after purchasing an additional 450,262 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 buying an additional 5,286 shares in the last quarter.

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.