Nurix Therapeutics (NASDAQ:NRIX) Cut to Sell at Wall Street Zen

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

Several other analysts have also recently issued reports on NRIX. Truist Financial upped their target price on Nurix Therapeutics from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, July 10th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price target on shares of Nurix Therapeutics in a research report on Tuesday, August 4th. Royal Bank Of Canada upped their price objective on shares of Nurix Therapeutics from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Mizuho raised their price objective on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Finally, BTIG Research reaffirmed a “buy” rating and set a $32.00 target price on shares of Nurix Therapeutics in a research note on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.21.

Nurix Therapeutics Stock Performance

NRIX stock opened at $26.14 on Friday. The firm has a 50-day moving average of $24.95 and a two-hundred day moving average of $19.43. Nurix Therapeutics has a 12 month low of $8.19 and a 12 month high of $28.23. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -7.58 and a beta of 1.80.

Nurix Therapeutics (NASDAQ:NRIX) last issued its earnings results on Thursday, July 9th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $9.04 million for the quarter, compared to analyst estimates of $15.29 million. As a group, equities analysts forecast that Nurix Therapeutics will post -2.73 earnings per share for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, CFO Hans van Houte sold 4,761 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 40,166 shares of the company’s stock, valued at approximately $978,443.76. The trade was a 10.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gwenn Hansen sold 5,394 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 115,005 shares in the company, valued at approximately $2,300,100. This represents a 4.48% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 26,766 shares of company stock worth $626,343. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Nurix Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NRIX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nurix Therapeutics by 11.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,804 shares of the company’s stock worth $593,000 after buying an additional 5,286 shares during the period. Millennium Management LLC raised its holdings in shares of Nurix Therapeutics by 106.2% in the 1st quarter. Millennium Management LLC now owns 874,399 shares of the company’s stock valued at $10,388,000 after buying an additional 450,262 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Nurix Therapeutics by 9.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 507,471 shares of the company’s stock valued at $6,029,000 after buying an additional 44,002 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Nurix Therapeutics by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,530 shares of the company’s stock worth $1,895,000 after acquiring an additional 12,817 shares in the last quarter. Finally, Creative Planning acquired a new position in Nurix Therapeutics during the 2nd quarter worth about $187,000.

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.