Nurix Therapeutics (NASDAQ:NRIX) Hits New 12-Month Low – What’s Next?

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $11.38 and last traded at $11.75, with a volume of 192656 shares traded. The stock had previously closed at $12.15.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Stephens restated an “overweight” rating and set a $31.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Stifel Nicolaus lifted their price objective on Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley raised their target price on Nurix Therapeutics from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, BTIG Research began coverage on shares of Nurix Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $35.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Nurix Therapeutics Stock Performance

The company has a 50-day moving average of $16.34 and a 200-day moving average of $20.35. The firm has a market capitalization of $890.53 million, a price-to-earnings ratio of -4.07 and a beta of 2.18.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. As a group, analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Insider Transactions at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 2,811 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total transaction of $55,798.35. Following the completion of the transaction, the chief financial officer now directly owns 39,549 shares of the company’s stock, valued at approximately $785,047.65. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gwenn Hansen sold 3,690 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the transaction, the insider now directly owns 55,937 shares in the company, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,326 shares of company stock valued at $213,449 over the last three months. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Nurix Therapeutics

A number of institutional investors have recently added to or reduced their stakes in NRIX. JPMorgan Chase & Co. grew its holdings in Nurix Therapeutics by 85.2% during the third quarter. JPMorgan Chase & Co. now owns 68,148 shares of the company’s stock worth $1,531,000 after purchasing an additional 31,352 shares during the period. Barclays PLC increased its stake in shares of Nurix Therapeutics by 77.9% during the third quarter. Barclays PLC now owns 128,344 shares of the company’s stock worth $2,884,000 after purchasing an additional 56,190 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Nurix Therapeutics by 42.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 789,222 shares of the company’s stock worth $14,869,000 after purchasing an additional 235,971 shares during the last quarter. FMR LLC boosted its stake in Nurix Therapeutics by 675.9% in the 3rd quarter. FMR LLC now owns 586,902 shares of the company’s stock valued at $13,188,000 after purchasing an additional 511,256 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Nurix Therapeutics by 52.4% in the 3rd quarter. Franklin Resources Inc. now owns 123,101 shares of the company’s stock valued at $2,766,000 after buying an additional 42,315 shares in 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.