Nurix Therapeutics (NASDAQ:NRIX) Price Target Lowered to $25.00 at Wells Fargo & Company

Nurix Therapeutics (NASDAQ:NRIX) had its price objective reduced by Wells Fargo & Company from $32.00 to $25.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also commented on the company. Morgan Stanley increased their price objective on Nurix Therapeutics from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Leerink Partnrs raised shares of Nurix Therapeutics to a “hold” rating in a research note on Monday, March 17th. Stifel Nicolaus cut their price objective on shares of Nurix Therapeutics from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday. Stephens reiterated an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. Finally, Needham & Company LLC cut their price target on shares of Nurix Therapeutics from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.44.

Nurix Therapeutics Stock Performance

Nurix Therapeutics stock traded down $1.25 during midday trading on Wednesday, reaching $8.35. 615,269 shares of the stock were exchanged, compared to its average volume of 917,366. The firm has a market cap of $636.65 million, a PE ratio of -2.89 and a beta of 2.23. Nurix Therapeutics has a 52 week low of $8.19 and a 52 week high of $29.56. The company’s fifty day moving average is $14.42 and its 200-day moving average is $19.39.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.05. The business had revenue of $18.45 million during the quarter, compared to analysts’ expectations of $12.78 million. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. During the same quarter in the previous year, the company earned ($0.76) EPS. On average, sell-side analysts anticipate that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Houte Hans Van sold 5,825 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.49, for a total transaction of $84,404.25. Following the completion of the transaction, the chief financial officer now owns 33,724 shares in the company, valued at $488,660.76. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gwenn Hansen sold 3,690 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the completion of the sale, the insider now owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. This trade represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,326 shares of company stock worth $213,449. 9.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in shares of Nurix Therapeutics by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 31,025 shares of the company’s stock valued at $585,000 after acquiring an additional 642 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Nurix Therapeutics by 2.3% during the fourth quarter. Corebridge Financial Inc. now owns 34,907 shares of the company’s stock worth $658,000 after purchasing an additional 770 shares during the period. Kennedy Capital Management LLC boosted its position in Nurix Therapeutics by 0.7% in the fourth quarter. Kennedy Capital Management LLC now owns 114,623 shares of the company’s stock valued at $2,159,000 after buying an additional 785 shares during the last quarter. US Bancorp DE raised its position in Nurix Therapeutics by 144.7% during the 4th quarter. US Bancorp DE now owns 1,424 shares of the company’s stock worth $27,000 after buying an additional 842 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Nurix Therapeutics by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock valued at $138,000 after acquiring an additional 877 shares during the last quarter.

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.