Nurix Therapeutics (NASDAQ:NRIX) Trading Down 3.2% – Should You Sell?

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price fell 3.2% on Tuesday . The stock traded as low as $19.13 and last traded at $19.34. 40,746 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 906,354 shares. The stock had previously closed at $19.98.

Analysts Set New Price Targets

NRIX has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their price target on Nurix Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Oppenheimer increased their target price on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $29.00 price target on shares of Nurix Therapeutics in a report on Tuesday, December 10th. UBS Group assumed coverage on shares of Nurix Therapeutics in a report on Thursday, October 24th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Stephens reissued an “overweight” rating and set a $31.00 target price on shares of Nurix Therapeutics in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nurix Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $30.35.

Nurix Therapeutics Trading Down 2.1 %

The company has a fifty day moving average price of $23.13 and a two-hundred day moving average price of $22.40. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -6.73 and a beta of 2.12.

Nurix Therapeutics (NASDAQ:NRIX) last released its quarterly earnings data on Friday, October 11th. The company reported ($0.67) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.67). Nurix Therapeutics had a negative return on equity of 63.39% and a negative net margin of 313.65%. The company had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. As a group, equities research analysts expect that Nurix Therapeutics, Inc. will post -2.81 earnings per share for the current year.

Insider Activity at Nurix Therapeutics

In other news, CFO Houte Hans Van sold 2,368 shares of Nurix Therapeutics stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total transaction of $57,542.40. Following the sale, the chief financial officer now owns 37,270 shares of the company’s stock, valued at approximately $905,661. The trade was a 5.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gwenn Hansen sold 3,437 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $24.30, for a total value of $83,519.10. Following the completion of the transaction, the insider now owns 50,670 shares of the company’s stock, valued at $1,231,281. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,401 shares of company stock valued at $437,453. 9.80% of the stock is owned by company insiders.

Institutional Trading of Nurix Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in Nurix Therapeutics by 80.7% during the second quarter. Renaissance Technologies LLC now owns 324,000 shares of the company’s stock worth $6,762,000 after buying an additional 144,700 shares during the period. TD Asset Management Inc purchased a new position in shares of Nurix Therapeutics during the 2nd quarter worth approximately $593,000. Candriam S.C.A. boosted its position in shares of Nurix Therapeutics by 30.5% during the 2nd quarter. Candriam S.C.A. now owns 1,164,246 shares of the company’s stock worth $24,297,000 after purchasing an additional 272,136 shares during the period. Bank of New York Mellon Corp increased its holdings in Nurix Therapeutics by 31.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 209,136 shares of the company’s stock valued at $4,365,000 after purchasing an additional 49,918 shares during the last quarter. Finally, FMR LLC raised its position in Nurix Therapeutics by 675.9% in the third quarter. FMR LLC now owns 586,902 shares of the company’s stock valued at $13,188,000 after purchasing an additional 511,256 shares during the period.

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.