Nurix Therapeutics (NASDAQ:NRIX) Issues Quarterly Earnings Results

Nurix Therapeutics (NASDAQ:NRIX) released its earnings results on Thursday. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.09), FiscalAI reports. The business had revenue of $9.04 million for the quarter, compared to analyst estimates of $15.29 million. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%.

Nurix Therapeutics Price Performance

NASDAQ NRIX opened at $24.69 on Friday. The business’s 50-day simple moving average is $18.31 and its 200-day simple moving average is $17.33. Nurix Therapeutics has a 1-year low of $8.19 and a 1-year high of $25.09. The firm has a market capitalization of $2.55 billion, a P/E ratio of -7.81 and a beta of 1.80.

Insider Activity

In other Nurix Therapeutics news, CFO Houte Hans Van sold 14,055 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $16.60, for a total value of $233,313.00. Following the completion of the sale, the chief financial officer owned 37,592 shares of the company’s stock, valued at $624,027.20. This trade represents a 27.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the transaction, the insider directly owned 115,005 shares in the company, valued at approximately $2,300,100. The trade was a 4.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 25,051 shares of company stock worth $434,466. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of NRIX. Intesa Sanpaolo Wealth Management acquired a new stake in Nurix Therapeutics during the 4th quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd bought a new position in Nurix Therapeutics during the 4th quarter valued at $33,000. Wexford Capital LP bought a new position in shares of Nurix Therapeutics during the third quarter worth about $41,000. Tower Research Capital LLC TRC grew its stake in 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 purchasing an additional 3,475 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new stake in Nurix Therapeutics in the third quarter valued at about $100,000.

Analyst Ratings Changes

NRIX has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Nurix Therapeutics from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Truist Financial raised their target price on Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, June 8th. BTIG Research upped their price target on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nurix Therapeutics in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company downgraded shares of Nurix Therapeutics from an “overweight” rating to a “hold” rating and cut their price target for the company from $28.00 to $25.00 in a report on Monday, June 8th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.85.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.