Nurix Therapeutics (NASDAQ:NRIX) Sets New 52-Week Low - Time to Sell?

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) shares reached a new 52-week low on Monday . The company traded as low as $8.60 and last traded at $8.97, with a volume of 66692 shares trading hands. The stock had previously closed at $9.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NRIX shares. JPMorgan Chase & Co. dropped their price objective on shares of Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on shares of Nurix Therapeutics from $32.00 to $25.00 and set an "overweight" rating for the company in a research note on Wednesday. Stifel Nicolaus reduced their price target on Nurix Therapeutics from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday. Needham & Company LLC decreased 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 note on Wednesday. Finally, Leerink Partnrs upgraded shares of Nurix Therapeutics to a "hold" rating in a report on Monday, March 17th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Nurix Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.44.

Nurix Therapeutics Stock Performance

The stock has a market cap of $696.80 million, a P/E ratio of -3.16 and a beta of 2.23. The stock's fifty day moving average is $14.03 and its 200 day moving average is $19.18.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 8th. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.05. The company had revenue of $18.45 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted ($0.76) EPS. Equities research analysts predict that Nurix Therapeutics, Inc. will post -2.99 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Houte Hans Van sold 2,811 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $55,798.35. Following the sale, the chief financial officer now directly owns 39,549 shares of the company's stock, valued at $785,047.65. This represents a 6.64 % 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 Nurix Therapeutics stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $19.85, for a total value of $73,246.50. Following the completion of the sale, the insider now owns 55,937 shares in the company, valued at approximately $1,110,349.45. The trade was a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,326 shares of company stock worth $213,449. 9.80% of the stock is currently owned by company insiders.

Institutional Trading of Nurix Therapeutics

Several large investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in Nurix Therapeutics by 1,711.9% in the 4th quarter. FMR LLC now owns 10,634,231 shares of the company's stock valued at $200,349,000 after purchasing an additional 10,047,329 shares during the last quarter. RA Capital Management L.P. purchased a new position in Nurix Therapeutics during the 4th quarter valued at about $25,120,000. Soleus Capital Management L.P. grew its position in Nurix Therapeutics by 97.3% in the 4th quarter. Soleus Capital Management L.P. now owns 2,102,833 shares of the company's stock valued at $39,617,000 after acquiring an additional 1,036,999 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Nurix Therapeutics during the fourth quarter worth about $16,447,000. Finally, Boxer Capital Management LLC acquired a new stake in shares of Nurix Therapeutics during the fourth quarter worth about $10,608,000.

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.