Nurix Therapeutics (NASDAQ:NRIX) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Nurix Therapeutics (NASDAQ:NRIX) from a hold rating to a strong sell rating in a report issued on Saturday morning.

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Nurix Therapeutics in a report on Wednesday, October 8th. Morgan Stanley set a $16.00 price objective on shares of Nurix Therapeutics and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Oppenheimer dropped their price objective on shares of Nurix Therapeutics from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday. Stephens reissued an “overweight” rating and set a $30.00 price objective on shares of Nurix Therapeutics in a report on Thursday, July 10th. Finally, Baird R W raised shares of Nurix Therapeutics to a “strong-buy” rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.93.

Nurix Therapeutics Stock Down 0.4%

NRIX stock opened at $9.72 on Friday. The firm has a 50 day moving average of $9.50 and a 200 day moving average of $10.54. The stock has a market capitalization of $747.27 million, a PE ratio of -3.27 and a beta of 2.33. Nurix Therapeutics has a 52 week low of $8.18 and a 52 week high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX) last released its earnings results on Thursday, October 9th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.19). The company had revenue of $7.89 million during the quarter, compared to analyst estimates of $16.06 million. Nurix Therapeutics had a negative return on equity of 53.57% and a negative net margin of 292.50%. On average, equities research analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 5,402 shares of Nurix Therapeutics stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $11.03, for a total transaction of $59,584.06. Following the completion of the transaction, the chief financial officer directly owned 35,512 shares of the company’s stock, valued at $391,697.36. The trade was a 13.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gwenn Hansen sold 4,308 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $12.01, for a total transaction of $51,739.08. Following the completion of the transaction, the insider owned 69,023 shares of the company’s stock, valued at approximately $828,966.23. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,014 shares of company stock valued at $163,014. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of Nurix Therapeutics by 118.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,413 shares of the company’s stock worth $73,000 after acquiring an additional 3,475 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Nurix Therapeutics by 38.9% in the first quarter. Exchange Traded Concepts LLC now owns 9,145 shares of the company’s stock worth $109,000 after acquiring an additional 2,562 shares during the period. Velan Capital Investment Management LP acquired a new position in shares of Nurix Therapeutics in the second quarter worth about $114,000. E Fund Management Co. Ltd. acquired a new position in shares of Nurix Therapeutics in the first quarter worth about $122,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Nurix Therapeutics in the second quarter worth about $141,000.

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.