Nurix Therapeutics (NASDAQ:NRIX) Trading Down 5.9% - Here's What Happened

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) dropped 5.9% on Thursday . The stock traded as low as $11.88 and last traded at $11.88. Approximately 94,461 shares were traded during mid-day 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

NRIX has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $27.00 price objective on shares of Nurix Therapeutics in a research note on Tuesday, April 29th. Leerink Partners assumed coverage on Nurix Therapeutics in a report on Monday, March 17th. They set a "market perform" rating and a $16.00 target price on the stock. Stifel Nicolaus lowered their target price on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Leerink Partnrs upgraded Nurix Therapeutics to a "hold" rating in a report on Monday, March 17th. Finally, HC Wainwright reiterated a "buy" rating and set a $36.00 target price on shares of Nurix Therapeutics in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.18.

Nurix Therapeutics Trading Down 5.3%

The business has a 50-day moving average price of $10.56 and a 200 day moving average price of $15.12. The company has a market cap of $911.78 million, a price-to-earnings ratio of -4.14 and a beta of 2.15.

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

Insider Transactions at Nurix Therapeutics

In related news, insider Gwenn Hansen sold 3,377 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $11.50, for a total value of $38,835.50. Following the transaction, the insider now owns 61,516 shares in the company, valued at approximately $707,434. This represents a 5.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Houte Hans Van sold 6,198 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 33,724 shares of the company's stock, valued at approximately $382,092.92. This trade represents a 15.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,013 shares of company stock valued at $137,096. Corporate insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Nurix Therapeutics

A number of large investors have recently bought and sold shares of NRIX. US Bancorp DE lifted its position in shares of Nurix Therapeutics by 144.7% during the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock valued at $27,000 after purchasing an additional 842 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Nurix Therapeutics in the 4th quarter valued at $28,000. Aquatic Capital Management LLC purchased a new stake in Nurix Therapeutics during the 4th quarter valued at $87,000. Summit Investment Advisors Inc. boosted its position in Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock valued at $138,000 after buying an additional 877 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Nurix Therapeutics in the 4th quarter worth $164,000.

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.