Nurix Therapeutics Inc (NASDAQ:NRIX) shares, rose in value, with the stock price down by -6.84% to the previous day’s close as strong demand from buyers drove the stock to $13.08.
Actively observing the price movement in the last trading, the stock closed the session at $14.04. The value of beta (5-year monthly) was 2.04. Referring to stock’s 52-week performance, its high was $16.11, and the low was $4.22. On the whole, NRIX has fluctuated by 42.02% over the past month.
With the market capitalization of Nurix Therapeutics Inc currently standing at about $639.48 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 11, 2024 – Apr 15, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.8, which is expected to increase to -$0.65 for fiscal year -$3.13 and then to about -$3.11 by fiscal year 2025. Data indicates that the EPS growth is expected to be -18.10% in 2025, while the next year’s EPS growth is forecast to be 0.60%.
Analysts have estimated the company’s revenue for the quarter at $16.64 million, with a low estimate of $9.72 million and a high estimate of $35 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $69.15 million, representing a decrease of -10.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NRIX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NRIX currently trading nearly 4.52% and 27.81% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 56.11, while the 7-day volatility ratio is showing 9.13% which for the 30-day chart, stands at 8.61%. Furthermore, Nurix Therapeutics Inc (NRIX)’s beta value is 2.04, and its average true range (ATR) is 1.05.
A comparison of Nurix Therapeutics Inc (NRIX) with its peers suggests the former has fared considerably weaker in the market. NRIX showed an intraday change of -6.84% in last session, and over the past year, it grew by 40.19%%.
Data on historical trading for Nurix Therapeutics Inc (NASDAQ:NRIX) indicates that the trading volumes over the past 10 days have averaged 0.89 million and over the past 3 months, they’ve averaged 808.92K. According to company’s latest data on outstanding shares, there are 48.72 million shares outstanding.
Nearly 7.90% of Nurix Therapeutics Inc’s shares belong to company insiders and institutional investors own 89.13% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.85 million shares as on Feb 29, 2024, resulting in a short ratio of 9.15. According to the data, the short interest in Nurix Therapeutics Inc (NRIX) stood at 14.00% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 7.29 million. The stock has risen by 26.74% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NRIX stock heading into the next quarter.
