Nurix Therapeutics (NASDAQ:NRIX) Shares Down 6% – Time to Sell?

Nurix Therapeutics, Inc. (NASDAQ:NRIX)’s share price was down 6% on Monday . The company traded as low as $14.61 and last traded at $14.52. Approximately 95,524 shares changed hands 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.

Wall Street Analysts Forecast Growth

Several research firms have commented on NRIX. Royal Bank of Canada boosted their price objective on Nurix Therapeutics from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. BTIG Research started coverage on Nurix Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $35.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Nurix Therapeutics from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Needham & Company LLC lowered their target price on shares of Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Stephens reiterated an “overweight” rating and issued a $31.00 target price on shares of Nurix Therapeutics in a research report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.81.

Nurix Therapeutics Stock Performance

The firm’s 50 day moving average price is $18.62 and its two-hundred day moving average price is $21.83. The firm has a market cap of $1.08 billion, a PE ratio of -4.91 and a beta of 2.14.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate 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%. On average, analysts forecast that Nurix Therapeutics, Inc. will post -2.99 earnings per share for the current year.

Insider Buying and Selling

In other Nurix Therapeutics 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 completion of the transaction, the chief financial officer now owns 39,549 shares of the company’s stock, valued at $785,047.65. This trade represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the sale, the insider now owns 55,937 shares of the company’s stock, valued at approximately $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Nurix Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NRIX. International Assets Investment Management LLC grew its stake in shares of Nurix Therapeutics by 1,098.4% in the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock valued at $101,000 after buying an additional 4,119 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Nurix Therapeutics by 31.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock valued at $54,000 after acquiring an additional 559 shares during the period. Amalgamated Bank grew its position in Nurix Therapeutics by 30.6% in the 3rd quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after acquiring an additional 511 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Nurix Therapeutics during the third quarter worth about $12,432,000. Finally, Victory Capital Management Inc. purchased a new stake in Nurix Therapeutics during the third quarter worth about $484,000.

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.