Nurix Therapeutics (NASDAQ:NRIX) Trading Down 5.7%

Nurix Therapeutics, Inc. (NASDAQ:NRIX) dropped 5.7% on Monday . The company traded as low as $24.07 and last traded at $24.16. Approximately 133,767 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 900,072 shares. The stock had previously closed at $25.62.

Analyst Ratings Changes

A number of research analysts have commented on NRIX shares. Needham & Company LLC dropped their price objective on shares of Nurix Therapeutics from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Oppenheimer boosted their price target on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price objective on Nurix Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Barclays lifted their target price on Nurix Therapeutics from $20.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Piper Sandler restated an “overweight” rating and set a $35.00 price target on shares of Nurix Therapeutics in a research note on Wednesday, June 5th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.00.

Nurix Therapeutics Price Performance

The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -8.23 and a beta of 2.23. The company’s 50 day moving average is $22.96 and its 200 day moving average is $18.34.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings results on Thursday, July 11th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.08). Nurix Therapeutics had a negative return on equity of 67.78% and a negative net margin of 264.84%. The firm had revenue of $12.09 million for the quarter, compared to analysts’ expectations of $19.35 million. Sell-side analysts predict that Nurix Therapeutics, Inc. will post -2.95 earnings per share for the current year.

Insider Activity

In related news, insider Christine Ring sold 5,760 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.81, for a total value of $119,865.60. Following the sale, the insider now directly owns 19,838 shares in the company, valued at approximately $412,828.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Christine Ring sold 5,760 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.81, for a total value of $119,865.60. Following the sale, the insider now directly owns 19,838 shares in the company, valued at $412,828.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Houte Hans Van sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $25.22, for a total transaction of $504,400.00. Following the transaction, the chief financial officer now directly owns 31,002 shares of the company’s stock, valued at $781,870.44. The disclosure for this sale can be found here. Insiders sold a total of 59,815 shares of company stock worth $1,416,751 over the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nurix Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in Nurix Therapeutics by 576.7% in the first quarter. Acadian Asset Management LLC now owns 160,293 shares of the company’s stock valued at $2,355,000 after acquiring an additional 136,606 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of Nurix Therapeutics by 80.9% in the 4th quarter. Trexquant Investment LP now owns 159,318 shares of the company’s stock valued at $1,644,000 after purchasing an additional 71,252 shares in the last quarter. Affinity Asset Advisors LLC grew its holdings in shares of Nurix Therapeutics by 176.0% during the 4th quarter. Affinity Asset Advisors LLC now owns 690,112 shares of the company’s stock worth $7,122,000 after purchasing an additional 440,112 shares during the period. SG Americas Securities LLC increased its position in Nurix Therapeutics by 365.0% during the 2nd quarter. SG Americas Securities LLC now owns 103,199 shares of the company’s stock worth $2,154,000 after purchasing an additional 81,005 shares in the last quarter. Finally, TD Asset Management Inc purchased a new position in Nurix Therapeutics in the second quarter valued at approximately $593,000.

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.