Nurix Therapeutics (NASDAQ:NRIX) Shares Down 6.9% - Should You Sell?

Nurix Therapeutics, Inc. (NASDAQ:NRIX - Get Free Report) fell 6.9% during mid-day trading on Thursday . The company traded as low as $13.61 and last traded at $13.54. 148,004 shares changed hands during trading, a decline of 83% from the average session volume of 869,111 shares. The stock had previously closed at $14.54.

Wall Street Analyst Weigh In

Several analysts have weighed in on NRIX shares. JPMorgan Chase & Co. lowered their price target on shares of Nurix Therapeutics from $31.00 to $30.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Stephens reissued an "overweight" rating and issued a $31.00 price target on shares of Nurix Therapeutics in a research note on Tuesday, January 21st. Needham & Company LLC lowered their price target on shares of Nurix Therapeutics from $29.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. BMO Capital Markets started coverage on shares of Nurix Therapeutics in a research note on Friday, December 6th. They issued an "outperform" rating and a $35.00 price target for the company. Finally, HC Wainwright boosted their price target on shares of Nurix Therapeutics from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $31.81.

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Nurix Therapeutics Stock Up 3.0 %

The firm's 50-day moving average is $17.54 and its 200-day moving average is $21.17. The company has a market cap of $1.03 billion, a PE ratio of -4.70 and a beta of 2.18.

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

Insider Activity at Nurix Therapeutics

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,690 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $73,246.50. Following the sale, the insider now owns 55,937 shares in the company, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Houte Hans Van sold 5,825 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.49, for a total transaction of $84,404.25. Following the completion of the sale, the chief financial officer now owns 33,724 shares in the company, valued at approximately $488,660.76. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock worth $213,449 over the last 90 days. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its holdings in Nurix Therapeutics by 144.7% in the fourth quarter. US Bancorp DE now owns 1,424 shares of the company's stock worth $27,000 after purchasing an additional 842 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at approximately $28,000. Amalgamated Bank grew its holdings in shares of Nurix Therapeutics by 30.6% during the third quarter. Amalgamated Bank now owns 2,182 shares of the company's stock valued at $49,000 after buying an additional 511 shares during the last quarter. Quarry LP grew its holdings in shares of Nurix Therapeutics by 3,746.2% during the third quarter. Quarry LP now owns 2,500 shares of the company's stock valued at $56,000 after buying an additional 2,435 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Nurix Therapeutics during the fourth quarter valued at approximately $87,000.

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.