Get in on Nurix Therapeutics Inc.’s (NRIX) buy-in window today!

Nurix Therapeutics Inc. (NASDAQ: NRIX) stock fell -5.03% on Wednesday to $11.89 against a previous-day closing price of $12.52. With 0.21 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.41 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $12.83 whereas the lowest price it dropped to was $11.86. The 52-week range on NRIX shows that it touched its highest point at $32.18 and its lowest point at $7.52 during that stretch. It currently has a 1-year price target of $34.91.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NRIX was down-trending over the past week, with a drop of -13.40%, but this was down by -1.00% over a month. Three-month performance dropped to -30.06% while six-month performance rose 16.68%. The stock lost -62.18% in the past year, while it has lost -58.93% so far this year. A look at the trailing 12-month EPS for NRIX yields -3.71 with Next year EPS estimates of -3.64. For the next quarter, that number is -0.79. This implies an EPS growth rate of -145.60% for this year and -1.10% for next year.

Float and Shares Shorts:

At present, 50.87 million NRIX shares are outstanding with a float of 45.58 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.97 million, which was 10.54% higher than short shares on Sep 14, 2022. In addition to Dr. Arthur T. Sands M.D., Ph.D. as the firm’s CEO, Pres & Director, Mr. Johannes Van Houte serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 101.45% of NRIX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.23% of NRIX, in contrast to 36.49% held by mutual funds. Shares owned by individuals account for 22.14%. As the largest shareholder in NRIX with 8.23% of the stake, Baker Bros. Advisors LP holds 3,882,125 shares worth 3,882,125. A second-largest stockholder of NRIX, T. Rowe Price Associates, Inc., holds 3,606,352 shares, controlling over 7.65% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in NRIX, holding 3,131,009 shares or 6.64% stake. With a 4.37% stake in NRIX, the ARK Genomic Revolution ETF is the largest stakeholder. A total of 2,059,959 shares are owned by the mutual fund manager. The T Rowe Price New Horizons Fund, which owns about 4.11% of NRIX stock, is the second-largest Mutual Fund holder. It holds 1,935,738 shares valued at 24.64 million. Fidelity Select Port. – Biotechno holds 3.51% of the stake in NRIX, owning 1,655,006 shares worth 21.07 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NRIX since 11 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NRIX analysts setting a high price target of $53.00 and a low target of $11.00, the average target price over the next 12 months is $34.91. Based on these targets, NRIX could surge 345.75% to reach the target high and fall by -7.49% to reach the target low. Reaching the average price target will result in a growth of 193.61% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NRIX will report FY 2022 earnings on 02/14/2023. Analysts have provided yearly estimates in a range of -$3.11 being high and -$3.84 being low. For NRIX, this leads to a yearly average estimate of -$3.55. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Nurix Therapeutics Inc. surprised analysts by $0.05 when it reported -$0.90 EPS against a consensus estimate of -$0.95. The surprise factor in the prior quarter was -$0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.29 and the low estimate is -$0.98. The average estimate for the next quarter is thus -$0.79.

Summary of Insider Activity:

Insiders traded NRIX stock several times over the past three months with 4 Buys and 4 Sells. In these transactions, 8,979 shares were bought while 2,953 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 99,897 while 13,372 shares were sold.

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