Nurix Therapeutics (NASDAQ:NRIX) Trading Down 6% on Insider Selling

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report)'s stock price dropped 6% on Monday following insider selling activity. The stock traded as low as $14.61 and last traded at $14.52. Approximately 95,524 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 686,033 shares. The stock had previously closed at $15.45.

Specifically, CFO Houte Hans Van sold 5,825 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.49, for a total value of $84,404.25. Following the completion of the transaction, the chief financial officer now directly owns 33,724 shares of the company's stock, valued at $488,660.76. This trade represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

NRIX has been the subject of several analyst reports. Needham & Company LLC cut their price target on shares of Nurix Therapeutics from $29.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Morgan Stanley raised their price target on shares of Nurix Therapeutics from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. HC Wainwright raised their price target on shares of Nurix Therapeutics from $35.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. BTIG Research initiated coverage on shares of Nurix Therapeutics in a report on Tuesday, December 10th. They issued a "buy" rating and a $35.00 price target for the company. Finally, Stifel Nicolaus raised their price target on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.81.

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Nurix Therapeutics Stock Performance

The company has a market cap of $1.05 billion, a PE ratio of -4.80 and a beta of 2.18. The business's 50-day moving average is $18.07 and its 200 day moving average is $21.55.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative return on equity of 53.65% and a negative net margin of 354.85%. Equities research analysts anticipate that Nurix Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Nurix Therapeutics

Large investors have recently added to or reduced their stakes in the business. FMR LLC grew 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 worth $200,349,000 after acquiring an additional 10,047,329 shares during the last quarter. RA Capital Management L.P. bought a new stake in Nurix Therapeutics in the 4th quarter worth $25,120,000. Soleus Capital Management L.P. grew its holdings 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 worth $39,617,000 after acquiring an additional 1,036,999 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Nurix Therapeutics in the 4th quarter worth $16,447,000. Finally, Boxer Capital Management LLC bought a new stake in Nurix Therapeutics in the 4th quarter worth $10,608,000.

About Nurix Therapeutics

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.