Nurix Therapeutics (NASDAQ:NRIX) Stock Lifted to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of Nurix Therapeutics (NASDAQ:NRIX) from a sell rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada lifted their target price on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. UBS Group increased their price target on Nurix Therapeutics from $23.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Wells Fargo & Company cut Nurix Therapeutics from an “overweight” rating to a “hold” rating and decreased their price objective for the stock from $28.00 to $25.00 in a research note on Monday, June 8th. Finally, Robert W. Baird upped their price objective on Nurix Therapeutics from $26.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.21.

Nurix Therapeutics Trading Down 2.7%

Shares of NASDAQ NRIX opened at $23.01 on Friday. Nurix Therapeutics has a 1 year low of $8.33 and a 1 year high of $28.23. The firm’s 50-day moving average is $25.33 and its 200-day moving average is $20.32. The firm has a market capitalization of $2.39 billion, a PE ratio of -6.67 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX) last posted its quarterly earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.08). Nurix Therapeutics had a negative return on equity of 76.09% and a negative net margin of 928.44%.The business had revenue of $9.04 million for the quarter, compared to the consensus estimate of $15.29 million. As a group, equities research analysts anticipate that Nurix Therapeutics will post -2.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Nurix Therapeutics

In related news, CFO Hans van Houte sold 4,761 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $24.36, for a total value of $115,977.96. Following the completion of the transaction, the chief financial officer owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 4,356 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $25.00, for a total transaction of $108,900.00. Following the completion of the transaction, the insider directly owned 117,227 shares of the company’s stock, valued at approximately $2,930,675. This trade represents a 3.58% 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. Insiders have sold 21,372 shares of company stock valued at $518,463 in the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Nurix Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Nurix Therapeutics during the second quarter worth about $212,769,000. General Atlantic L.P. bought a new position in Nurix Therapeutics in the fourth quarter valued at approximately $92,899,000. Perceptive Advisors LLC grew its stake in Nurix Therapeutics by 151.1% in the fourth quarter. Perceptive Advisors LLC now owns 3,555,877 shares of the company’s stock valued at $67,455,000 after purchasing an additional 2,139,728 shares in the last quarter. Trails Edge Capital Partners LP acquired a new position in shares of Nurix Therapeutics during the 2nd quarter worth approximately $38,166,318. Finally, Eventide Asset Management LLC acquired a new position in shares of Nurix Therapeutics during the 4th quarter worth approximately $24,621,000.

About Nurix Therapeutics

Nurix Therapeutics, Inc is a biopharmaceutical company focused on developing medicines that regulate the body’s natural protein-disposal systems to treat cancer and other serious diseases. The company’s approach centers on targeted protein modulation, including the use of small molecules to promote the degradation of disease-causing proteins or alter the activity of proteins involved in immune responses.

Nurix’s technology platform is built around E3 ligases, enzymes that help determine which proteins are marked for destruction inside cells.