Nurix Therapeutics (NASDAQ:NRIX) Trading Down 3.6%

Nurix Therapeutics, Inc. (NASDAQ:NRIX) shares traded down 3.6% on Tuesday . The stock traded as low as $12.91 and last traded at $13.04. 135,984 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 781,499 shares. The stock had previously closed at $13.53.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. HC Wainwright lowered their price objective on shares of Nurix Therapeutics from $35.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Wells Fargo & Company dropped their price target on Nurix Therapeutics from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Royal Bank of Canada dropped their price target on Nurix Therapeutics from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research report on Friday, February 16th. Finally, Morgan Stanley raised their price target on Nurix Therapeutics from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

Nurix Therapeutics Stock Up 1.1 %

The company has a 50 day moving average of $10.92 and a 200-day moving average of $8.74.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.26). Nurix Therapeutics had a negative net margin of 186.98% and a negative return on equity of 59.47%. The company had revenue of $15.16 million during the quarter, compared to analyst estimates of $30.66 million. On average, equities analysts predict that Nurix Therapeutics, Inc. will post -3.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nurix Therapeutics news, CFO Houte Hans Van sold 6,812 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.02, for a total value of $68,256.24. Following the sale, the chief financial officer now owns 68,333 shares in the company, valued at approximately $684,696.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 10,817 shares of company stock valued at $100,256 in the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Nurix Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Swiss National Bank boosted its position in shares of Nurix Therapeutics by 8.0% during the 1st quarter. Swiss National Bank now owns 47,500 shares of the company’s stock valued at $665,000 after purchasing an additional 3,500 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Nurix Therapeutics by 34.1% in the first quarter. JPMorgan Chase & Co. now owns 120,516 shares of the company’s stock worth $1,688,000 after purchasing an additional 30,664 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Nurix Therapeutics by 58.5% in the first quarter. MetLife Investment Management LLC now owns 18,670 shares of the company’s stock worth $262,000 after purchasing an additional 6,891 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Nurix Therapeutics by 4.9% in the first quarter. Rhumbline Advisers now owns 33,511 shares of the company’s stock worth $469,000 after purchasing an additional 1,573 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Nurix Therapeutics by 104.1% in the first quarter. Dimensional Fund Advisors LP now owns 237,525 shares of the company’s stock worth $3,328,000 after purchasing an additional 121,167 shares during the last quarter.

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.