Nurix Therapeutics (NASDAQ:NRIX) Issues Earnings Results, Misses Estimates By $0.08 EPS

Nurix Therapeutics (NASDAQ:NRIX) posted its earnings results on Thursday. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.08), FiscalAI reports. Nurix Therapeutics had a negative return on equity of 64.21% and a negative net margin of 411.37%.The business had revenue of $9.04 million for the quarter, compared to analyst estimates of $15.29 million.

Nurix Therapeutics Stock Up 1.6%

Nurix Therapeutics stock traded up $0.38 during mid-day trading on Thursday, hitting $24.69. 1,252,569 shares of the stock were exchanged, compared to its average volume of 1,555,606. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -7.81 and a beta of 1.80. Nurix Therapeutics has a 12 month low of $8.19 and a 12 month high of $25.09. The firm’s fifty day simple moving average is $18.16 and its two-hundred day simple moving average is $17.29.

Insiders Place Their Bets

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

Institutional Trading of Nurix Therapeutics

Large investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its stake in Nurix Therapeutics by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 68,019 shares of the company’s stock valued at $1,290,000 after purchasing an additional 1,476 shares in the last quarter. Intesa Sanpaolo Wealth Management bought a new position in shares of Nurix Therapeutics in the fourth quarter valued at $31,000. Royal Bank of Canada grew its holdings in shares of Nurix Therapeutics by 17.6% during the fourth quarter. Royal Bank of Canada now owns 10,842 shares of the company’s stock valued at $206,000 after buying an additional 1,623 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Nurix Therapeutics during the fourth quarter valued at about $33,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Nurix Therapeutics by 5.0% during the fourth quarter. Russell Investments Group Ltd. now owns 63,482 shares of the company’s stock valued at $1,204,000 after buying an additional 3,046 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have issued reports on NRIX shares. BTIG Research upped their price target on shares of Nurix Therapeutics from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Oppenheimer started coverage on shares of Nurix Therapeutics in a research note on Monday, June 29th. They issued an “outperform” rating and a $28.00 price objective on the stock. Wells Fargo & Company downgraded Nurix Therapeutics from an “overweight” rating to a “hold” rating and decreased their price objective for the company from $28.00 to $25.00 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 stock a “buy” rating in a research report on Monday, June 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a report on Wednesday, June 10th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.20.

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.