Nurix Therapeutics (NASDAQ:NRIX) Stock Price Down 3.2% - Here's Why

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) were down 3.2% on Tuesday . The company traded as low as $19.13 and last traded at $19.34. Approximately 40,746 shares were traded during trading, a decline of 96% from the average daily volume of 906,354 shares. The stock had previously closed at $19.98.

Analysts Set New Price Targets

Several research firms have recently issued reports on NRIX. BTIG Research began coverage on shares of Nurix Therapeutics in a report on Tuesday, December 10th. They set a "buy" rating and a $35.00 price objective on the stock. Royal Bank of Canada decreased their price target on shares of Nurix Therapeutics from $27.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, October 14th. Robert W. Baird started coverage on shares of Nurix Therapeutics in a report on Friday, September 6th. They set an "outperform" rating and a $26.00 price objective on the stock. HC Wainwright upped their target price on Nurix Therapeutics from $30.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Finally, BMO Capital Markets started coverage on Nurix Therapeutics in a research report on Friday, December 6th. They set an "outperform" rating and a $35.00 price target for the company. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Nurix Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $30.35.

Nurix Therapeutics Stock Down 2.1 %

The company has a market cap of $1.39 billion, a PE ratio of -6.73 and a beta of 2.12. The business has a 50-day simple moving average of $23.36 and a 200-day simple moving average of $22.40.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.67). The firm had revenue of $12.59 million for the quarter, compared to analysts' expectations of $13.85 million. Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. On average, research analysts forecast that Nurix Therapeutics, Inc. will post -2.81 EPS for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 3,437 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total value of $83,519.10. Following the transaction, the insider now directly owns 50,670 shares of the company's stock, valued at approximately $1,231,281. This trade represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Houte Hans Van sold 3,546 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $24.28, for a total transaction of $86,096.88. Following the sale, the chief financial officer now directly owns 33,724 shares of the company's stock, valued at approximately $818,818.72. This represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,401 shares of company stock valued at $437,453 over the last 90 days. Corporate insiders own 9.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in shares of Nurix Therapeutics by 80.7% during the 2nd quarter. Renaissance Technologies LLC now owns 324,000 shares of the company's stock valued at $6,762,000 after acquiring an additional 144,700 shares during the last quarter. TD Asset Management Inc acquired a new position in Nurix Therapeutics in the 2nd quarter valued at about $593,000. Candriam S.C.A. grew its stake in shares of Nurix Therapeutics by 30.5% in the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company's stock valued at $24,297,000 after buying an additional 272,136 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Nurix Therapeutics by 31.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company's stock worth $4,365,000 after buying an additional 49,918 shares during the last quarter. Finally, FMR LLC raised its position in shares of Nurix Therapeutics by 675.9% during the 3rd quarter. FMR LLC now owns 586,902 shares of the company's stock valued at $13,188,000 after buying an additional 511,256 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.